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Business Segments (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Information on Company's Business Segments

Information on the Company’s business segments is presented below. The Company uses Adjusted EBITDA as its principal measure of segment performance. Intersegment sales are contracted with terms equivalent to those of an arm’s-length transaction.

									Three Months Ended March 31,
															2024						2023
NET SALES
Fluid & Metering Technologies
External customers															$	313.5					$	321.1
Intersegment sales															0.2						0.7
Total segment sales															313.7						321.8
Health & Science Technologies
External customers															309.4						350.3
Intersegment sales															0.7						0.7
Total segment sales															310.1						351.0
Fire & Safety/Diversified Products
External customers															177.6						174.0
Intersegment sales															0.4						0.4
Total segment sales															178.0						174.4
Intersegment eliminations															(1.3)						(1.8)
Net sales															$	800.5					$	845.4
ADJUSTED EBITDA
Fluid & Metering Technologies															$	105.4					$	106.2
Health & Science Technologies															81.4						100.7
Fire & Safety/Diversified Products															51.4						49.7
Segment Adjusted EBITDA															238.2						256.6
Corporate and other(1)															(29.9)						(26.8)
Adjusted EBITDA															208.3						229.8
Interest expense - net															(9.4)						(13.1)
Depreciation															(16.2)						(12.8)
Amortization of intangible assets															(24.6)						(23.6)
Fair value inventory step-up charges															(2.5)						—
Restructuring expenses and asset impairments															(1.1)						(0.5)
Income before income taxes															$	154.5					$	179.8

(1) Corporate expenses that can be identified with a segment have been included in determining segment results. The remainder is included in Corporate and other.

			March 31, 2024						December 31, 2023
ASSETS
Fluid & Metering Technologies			$	1,702.6					$	1,674.7
Health & Science Technologies			3,193.6						3,262.4
Fire & Safety/Diversified Products			804.3						792.6
Corporate and other			188.9						135.5
Total assets			$	5,889.4					$	5,865.2

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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