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v3.25.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
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 March 31, |  |  |
| 2025 |  | 2024 |  |  |  |  |
Revenue: |  |  |  |  |  |  |  |
Engineered Products | $ | 254,646 |  |  | $ | 332,820 |  |  |  |  |  |
Clean Energy & Fueling | 491,148 |  |  | 445,053 |  |  |  |  |  |
Imaging & Identification | 280,090 |  |  | 276,806 |  |  |  |  |  |
Pumps & Process Solutions | 493,573 |  |  | 465,729 |  |  |  |  |  |
Climate & Sustainability Technologies | 347,888 |  |  | 364,292 |  |  |  |  |  |
Total segment revenues | 1,867,345 |  |  | 1,884,700 |  |  |  |  |  |
Intersegment eliminations | (1,286) |  |  | (981) |  |  |  |  |  |
Total consolidated revenue | $ | 1,866,059 |  |  | $ | 1,883,719 |  |  |  |  |  |
Adjusted cost of goods and services:(1) |  |  |  |  |  |  |  |
Engineered Products | $ | 173,080 |  |  | $ | 220,162 |  |  |  |  |  |
Clean Energy & Fueling | 315,194 |  |  | 290,651 |  |  |  |  |  |
Imaging & Identification | 123,625 |  |  | 127,825 |  |  |  |  |  |
Pumps & Process Solutions | 252,164 |  |  | 260,375 |  |  |  |  |  |
Climate & Sustainability Technologies | 244,700 |  |  | 263,693 |  |  |  |  |  |
Total adjusted segment cost of goods and services | $ | 1,108,763 |  |  | $ | 1,162,706 |  |  |  |  |  |
Adjusted selling, general and administrative expenses:(2) |  |  |  |  |  |  |  |
Engineered Products | $ | 37,452 |  |  | $ | 50,126 |  |  |  |  |  |
Clean Energy & Fueling | 90,310 |  |  | 84,727 |  |  |  |  |  |
Imaging & Identification | 78,890 |  |  | 79,022 |  |  |  |  |  |
Pumps & Process Solutions | 90,134 |  |  | 86,617 |  |  |  |  |  |
Climate & Sustainability Technologies | 51,069 |  |  | 49,840 |  |  |  |  |  |
Total adjusted segment selling, general and administrative expenses | $ | 347,855 |  |  | $ | 350,332 |  |  |  |  |  |
Earnings from continuing operations: |  |  |  |  |  |  |  |
Segment earnings: |  |  |  |  |  |  |  |
Engineered Products | $ | 44,114 |  |  | $ | 62,532 |  |  |  |  |  |
Clean Energy & Fueling | 85,644 |  |  | 69,675 |  |  |  |  |  |
Imaging & Identification | 77,575 |  |  | 69,959 |  |  |  |  |  |
Pumps & Process Solutions | 151,275 |  |  | 118,737 |  |  |  |  |  |
Climate & Sustainability Technologies | 52,119 |  |  | 50,759 |  |  |  |  |  |
Total segment earnings | 410,727 |  |  | 371,662 |  |  |  |  |  |
Purchase accounting expenses (3) | 49,104 |  |  | 44,187 |  |  |  |  |  |
Restructuring and other costs (4) | 9,397 |  |  | 23,971 |  |  |  |  |  |
Gain on dispositions (5) | (2,468) |  |  | (529,943) |  |  |  |  |  |
Corporate expense / other (6) | 51,959 |  |  | 42,159 |  |  |  |  |  |
Interest expense | 27,608 |  |  | 36,365 |  |  |  |  |  |
Interest income | (20,254) |  |  | (4,756) |  |  |  |  |  |
Earnings before provision for income taxes | 295,381 |  |  | 759,679 |  |  |  |  |  |
Provision for income taxes | 56,140 |  |  | 157,577 |  |  |  |  |  |
Earnings from continuing operations | $ | 239,241 |  |  | $ | 602,102 |  |  |  |  |  |
(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, gain on dispositions and include other income, net. (3) Purchase accounting expenses are primarily comprised of amortization of intangible assets. (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:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Restructuring | $ | 8,310 |  |  | $ | 18,655 |  |  |  |  |
Other costs, net | 1,087 |  |  | 5,316 |  |  |  |  |
Restructuring and other costs | $ | 9,397 |  |  | $ | 23,971 |  |  |  |  |
(5) Gain on dispositions, including post-closing adjustments; see Note 4 — Discontinued and Disposed Operations for further details. (6) 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.
| Three Months Ended March 31,
| 2025 |  | 2024
Segment earnings margins: |  |  |
Engineered Products | 17.3 | % |  | 18.8 | %
Clean Energy & Fueling | 17.4 | % |  | 15.7 | %
Imaging & Identification | 27.7 | % |  | 25.3 | %
Pumps & Process Solutions | 30.6 | % |  | 25.5 | %
Climate & Sustainability Technologies | 15.0 | % |  | 13.9 | %
Total segments | 22.0 | % |  | 19.7 | %
Depreciation and amortization: |  |  |
Other depreciation and amortization:(7) |  |  |
Engineered Products | $ | 4,800 |  | $ | 4,785
Clean Energy & Fueling | 8,578 |  | 7,921
Imaging & Identification | 4,093 |  | 3,733
Pumps & Process Solutions | 12,601 |  | 12,139
Climate & Sustainability Technologies | 7,325 |  | 7,275
Total other depreciation and amortization | 37,397 |  | 35,853
Corporate depreciation and amortization | 1,840 |  | 1,731
Depreciation and amortization included in purchase accounting expenses and restructuring and other | 48,181 |  | 44,187
Consolidated depreciation and amortization total | $ | 87,418 |  | $ | 81,771
(7) 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.
| Three Months Ended March 31,
Capital expenditures: | 2025 |  | 2024
Engineered Products | $ | 5,822 |  |  | $ | 5,170 |
Clean Energy & Fueling | 11,093 |  |  | 10,043 |
Imaging & Identification | 9,656 |  |  | 2,786 |
Pumps & Process Solutions | 12,467 |  |  | 9,904 |
Climate & Sustainability Technologies | 8,598 |  |  | 10,973 |
Corporate | 556 |  |  | 1,174 |
Total capital expenditures | $ | 48,192 |  |  | $ | 40,050 |
Selected financial information by segment (continued):
Total assets: | March 31, 2025 |  | December 31, 2024
Engineered Products | $ | 1,075,309 |  |  | $ | 1,063,292 |
Clean Energy & Fueling | 3,623,154 |  |  | 3,601,573 |
Imaging & Identification | 1,787,282 |  |  | 1,749,028 |
Pumps & Process Solutions | 2,674,855 |  |  | 2,613,405 |
Climate & Sustainability Technologies | 1,361,973 |  |  | 1,293,132 |
Corporate (8) | 2,125,975 |  |  | 2,188,730 |
Total assets | $ | 12,648,548 |  |  | $ | 12,509,160 |
(8) Corporate assets are comprised primarily of cash and cash equivalents.
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 March 31, |  |
Revenue by geography | 2025 |  | 2024 |  |  |  |
United States | $ | 1,023,117 |  |  | $ | 1,014,676 |  |  |  |  |
Europe | 397,291 |  |  | 432,896 |  |  |  |  |
Asia | 208,732 |  |  | 203,064 |  |  |  |  |
Other Americas | 159,896 |  |  | 162,123 |  |  |  |  |
Other | 77,023 |  |  | 70,960 |  |  |  |  |
Total | $ | 1,866,059 |  |  | $ | 1,883,719 |  |  |  |  |
For the three months ended March 31, 2025 and 2024, the U.S. was the largest geographical market for revenue for the Engineered Products, Clean Energy & Fueling, Pumps & Process Solutions, and Climate & Sustainability Technologies segments, and Europe was the largest market for the Imaging & Identification segment.

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