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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 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 follows:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenue: |  |  |  |  |
Engineered Products | $ | 1,202,457 |  |  | $ | 1,250,925 |  |  | $ | 1,379,512 |
Clean Energy & Fueling | 1,936,784 |  |  | 1,788,277 |  |  | 1,878,507 |
Imaging & Identification | 1,137,165 |  |  | 1,116,732 |  |  | 1,123,815 |
Pumps & Process Solutions | 1,894,566 |  |  | 1,755,691 |  |  | 1,728,235 |
Climate & Sustainability Technologies | 1,579,649 |  |  | 1,778,582 |  |  | 1,737,724 |
Total segment revenues | 7,750,621 |  |  | 7,690,207 |  |  | 7,847,793 |
Intersegment eliminations | (4,712) |  |  | (5,731) |  |  | (3,619) |
Total consolidated revenue | $ | 7,745,909 |  |  | $ | 7,684,476 |  |  | $ | 7,844,174 |
Adjusted cost of goods and services:(1) |  |  |  |  |
Engineered Products | $ | 806,133 |  |  | $ | 834,095 |  |  | $ | 935,128 |
Clean Energy & Fueling | 1,232,836 |  |  | 1,155,988 |  |  | 1,212,716 |
Imaging & Identification | 520,748 |  |  | 531,194 |  |  | 550,634 |
Pumps & Process Solutions | 1,016,622 |  |  | 955,472 |  |  | 885,903 |
Climate & Sustainability Technologies | 1,130,736 |  |  | 1,281,593 |  |  | 1,292,716 |
Total adjusted segment cost of goods and services | $ | 4,707,075 |  |  | $ | 4,758,342 |  |  | $ | 4,877,097 |
Adjusted selling, general and administrative expenses:(2) |  |  |  |  |
Engineered Products | $ | 165,087 |  |  | $ | 192,779 |  |  | $ | 203,888 |
Clean Energy & Fueling | 343,955 |  |  | 303,685 |  |  | 312,798 |
Imaging & Identification | 314,710 |  |  | 313,026 |  |  | 305,097 |
Pumps & Process Solutions | 341,338 |  |  | 315,814 |  |  | 309,314 |
Climate & Sustainability Technologies | 198,038 |  |  | 191,609 |  |  | 190,524 |
Total adjusted segment selling, general and administrative expenses | $ | 1,363,128 |  |  | $ | 1,316,913 |  |  | $ | 1,321,621 |
Earnings from continuing operations: |  |  |  |  |
Segment earnings: |  |  |  |  |
Engineered Products | $ | 231,237 |  |  | $ | 224,051 |  |  | $ | 240,496 |
Clean Energy & Fueling | 359,993 |  |  | 328,604 |  |  | 352,993 |
Imaging & Identification | 301,707 |  |  | 272,512 |  |  | 268,084 |
Pumps & Process Solutions | 536,606 |  |  | 484,405 |  |  | 533,018 |
Climate & Sustainability Technologies | 250,875 |  |  | 305,380 |  |  | 254,484 |
Total segment earnings | 1,680,418 |  |  | 1,614,952 |  |  | 1,649,075 |
Purchase accounting expenses (3) | 186,241 |  |  | 158,582 |  |  | 174,397 |
Restructuring and other costs (4) | 84,983 |  |  | 62,927 |  |  | 36,209 |
Disposition costs (5) | — |  |  | 1,302 |  |  | — |
(Gain) loss on dispositions (6) | (597,798) |  |  | — |  |  | 194 |
Corporate expense / other (7) | 155,963 |  |  | 151,333 |  |  | 136,045 |
Interest expense | 131,171 |  |  | 131,304 |  |  | 116,456 |
Interest income | (37,158) |  |  | (13,496) |  |  | (4,429) |
Earnings before provision for income taxes | 1,757,016 |  |  | 1,123,000 |  |  | 1,190,203 |
Provision for income taxes | 357,048 |  |  | 179,136 |  |  | 200,291 |
Earnings from continuing operations | $ | 1,399,968 |  |  | $ | 943,864 |  |  | $ | 989,912 |
(1) Adjusted cost of goods and services exclude expenses related to purchase accounting and restructuring and other costs. (2) Adjusted selling, general and administrative expenses exclude expenses related to purchase accounting, restructuring and other costs, disposition costs, and (gain) loss on dispositions and include other income, net. (3) 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. (4) 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:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Restructuring | $ | 69,810 |  |  | $ | 49,901 |  |  | $ | 30,480 |
Other costs, net | 15,173 |  |  | 13,026 |  |  | 5,729 |
Restructuring and other costs | $ | 84,983 |  |  | $ | 62,927 |  |  | $ | 36,209 |
(5) Disposition costs related to the sale of De-Sta-Co in our Engineered Products segment. (6) (Gain) loss on dispositions includes post-closing adjustments, see Note 4 — Discontinued and Disposed Operations. (7) 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 and IT overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters. Segment margin and a reconciliation of segment depreciation and amortization to consolidated results follows:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Segment margins: |  |  |  |  |
Engineered Products | 19.2 | % |  | 17.9 | % |  | 17.4 | %
Clean Energy & Fueling | 18.6 | % |  | 18.4 | % |  | 18.8 | %
Imaging & Identification | 26.5 | % |  | 24.4 | % |  | 23.9 | %
Pumps & Process Solutions | 28.3 | % |  | 27.6 | % |  | 30.8 | %
Climate & Sustainability Technologies | 15.9 | % |  | 17.2 | % |  | 14.6 | %
Total segments | 21.7 | % |  | 21.0 | % |  | 21.0 | %
Depreciation and amortization: |  |  |  |  |
Other depreciation and amortization:(8) |  |  |  |  |
Engineered Products | $ | 19,259 |  |  | $ | 22,012 |  | $ | 22,571
Clean Energy & Fueling | 31,976 |  |  | 30,117 |  | 28,815
Imaging & Identification | 14,648 |  |  | 15,293 |  | 14,185
Pumps & Process Solutions | 50,050 |  |  | 46,344 |  | 40,839
Climate & Sustainability Technologies | 29,139 |  |  | 27,557 |  | 26,204
Total other depreciation and amortization | 145,072 |  |  | 141,323 |  | 132,614
Corporate depreciation and amortization | 7,030 |  |  | 6,046 |  | 8,144
Depreciation and amortization included in purchase accounting expenses and restructuring and other | 185,740 |  |  | 157,677 |  | 154,902
Consolidated depreciation and amortization total | $ | 337,842 |  |  | $ | 305,046 |  | $ | 295,660
(8) Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs.
Schedule of Reconciliation of Assets from Segment to Consolidated | Selected financial information by segment (continued):
| Years Ended December 31,
Capital expenditures: | 2024 |  | 2023 |  | 2022
Engineered Products | $ | 21,353 |  |  | $ | 17,457 |  |  | $ | 29,885 |
Clean Energy & Fueling | 37,340 |  |  | 25,421 |  |  | 33,489 |
Imaging & Identification | 13,173 |  |  | 11,598 |  |  | 14,695 |
Pumps & Process Solutions | 55,397 |  |  | 60,860 |  |  | 82,817 |
Climate & Sustainability Technologies | 35,445 |  |  | 61,790 |  |  | 41,426 |
Corporate | 4,825 |  |  | 6,280 |  |  | 8,770 |
Total capital expenditures | $ | 167,533 |  |  | $ | 183,406 |  |  | $ | 211,082 |
Total assets at December 31: | 2024 |  | 2023
Engineered Products (9) | $ | 1,063,292 |  |  | $ | 1,260,549 |
Clean Energy & Fueling (10) | 3,601,573 |  |  | 3,020,621 |
Imaging & Identification | 1,749,028 |  |  | 1,812,704 |
Pumps & Process Solutions | 2,613,405 |  |  | 2,654,421 |
Climate & Sustainability Technologies | 1,293,132 |  |  | 1,466,141 |
Corporate (11) | 2,188,730 |  |  | 597,637 |
Total assets from continuing operations | 12,509,160 |  |  | 10,812,073 |
Assets from discontinued operations | — |  |  | 536,440 |
Total assets | $ | 12,509,160 |  |  | $ | 11,348,513 |
(9) Engineered Products includes De-Sta-Co assets classified as held for sale at December 31, 2023. See Note 4 — Discontinued and Disposed Operations for additional information. (10) Increase primarily driven by 2024 acquisitions. See Note 3 — Acquisitions for additional information. (11) Corporate assets are comprised primarily of cash and cash equivalents. The increase in Corporate assets at December 31, 2024 is driven by the cash proceeds from the disposition of ESG.
Schedule of Revenue Disaggregated by Geography based on the Location |
| Revenue |  | Long-Lived Assets (12)
| Years Ended December 31, |  | At December 31,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023
United States | $ | 4,201,427 |  |  | $ | 3,970,828 |  |  | $ | 4,197,423 |  |  | $ | 599,090 |  |  | $ | 570,349 |
Europe | 1,676,209 |  |  | 1,756,999 |  |  | 1,791,806 |  |  | 302,129 |  |  | 321,628 |
Asia | 832,764 |  |  | 923,890 |  |  | 938,699 |  |  | 57,113 |  |  | 59,496 |
Other Americas | 729,709 |  |  | 671,162 |  |  | 653,777 |  |  | 26,431 |  |  | 22,936 |
Other | 305,800 |  |  | 361,597 |  |  | 262,469 |  |  | 3,161 |  |  | 4,063 |
Consolidated total | $ | 7,745,909 |  |  | $ | 7,684,476 |  |  | $ | 7,844,174 |  |  | $ | 987,924 |  |  | $ | 978,472 |
(12) Long-lived assets are comprised of net property, plant and equipment.

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