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Information on Reportable Segments and “Other” Operating Segment | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Information on Reportable Segments and “Other” Operating Segment | Information on Reportable Segments and “Other” Operating Segment We are a global supplier of highly specialized, engineered solutions with operations in over 15 countries and sales in over 100 countries around the world. Our DBT operating segment is reported within an “Other” category outside of our reportable segments. We have aggregated our other operating segments into the following three reportable segments: HVAC, Detection and Measurement and Engineered Solutions. The factors considered in determining our aggregated segments are the economic similarity of the businesses, the nature of products sold or services provided, production processes, types of customers, distribution methods, and regulatory environment. In determining our reportable segments, we apply the threshold criteria of the Segment Reporting Topic of the Codification. Operating income or loss for each of our operating segments is determined before considering impairment and special charges, long-term incentive compensation, certain other operating expenses, and other indirect corporate expenses. This is consistent with the way our Chief Operating Decision Maker evaluates the results of each segment. HVAC Reportable Segment Our HVAC reportable segment engineers, designs, manufactures, installs and services cooling products for the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets. The primary distribution channels for the segment’s products are direct to customers, independent manufacturing representatives, third-party distributors, and retailers. The segment serves a customer base in North America, Europe, and Asia. Detection and Measurement Reportable Segment Our Detection and Measurement reportable segment engineers, designs, manufactures, services, and installs underground pipe and cable locators, inspection and rehabilitation equipment, robotic systems, bus fare collection systems, communication technologies, and obstruction lighting. The primary distribution channels for the segment’s products are direct to customers and third-party distributors. The segment serves a global customer base, with a strong presence in North America, Europe, Africa and Asia Pacific. Engineered Solutions Reportable Segment Our Engineered Solutions reportable segment engineers, designs, manufactures, installs and services transformers for the power transmission and distribution market and process cooling equipment for the industrial and power generation markets. The primary distribution channels for the segment’s products are direct to customers and third-party representatives. The segment has a strong presence in North America. Other As noted above, “Other” consists of our South African operating segment, DBT. Our DBT operating segment engineers, designs, manufactures, installs, and services equipment for the industrial and power generation markets, with its efforts focused primarily on two large power projects in South Africa that are in the final stages of completion (see Note 15 for additional details). Corporate Expense Corporate expense generally relates to the cost of our Charlotte, NC corporate headquarters. Financial data for our reportable and other operating segments for the years ended December 31, 2020, 2019 and 2018 were as follows:
| 2020 |  | 2019 |  | 2018
Revenues: |  |  |  |  |
HVAC reportable segment | $ | 590.7 |  |  | $ | 593.2 |  |  | $ | 582.1 |
Detection and Measurement reportable segment | 387.3 |  |  | 384.9 |  |  | 320.9 |
Engineered Solutions reportable segment | 577.5 |  |  | 548.9 |  |  | 537.0 |
Other (1) | 4.0 |  |  | (6.1) |  |  | 72.6 |
Consolidated revenues | $ | 1,559.5 |  |  | $ | 1,520.9 |  |  | $ | 1,512.6 |
Income (loss): |  |  |  |  |
HVAC reportable segment | $ | 93.4 |  |  | $ | 95.4 |  |  | $ | 90.0 |
Detection and Measurement reportable segment | 69.1 |  |  | 81.7 |  |  | 72.4 |
Engineered Solutions reportable segment | 60.5 |  |  | 43.0 |  |  | 35.0 |
Other (1) | (19.3) |  |  | (43.6) |  |  | (16.0) |
Total income for segments | 203.7 |  |  | 176.5 |  |  | 181.4 |
Corporate expense | 44.8 |  |  | 46.7 |  |  | 49.1 |
Long-term incentive compensation expense | 14.0 |  |  | 13.6 |  |  | 15.5 |
Impairment of intangible assets | 0.7 |  |  | — |  |  | — |
Special charges, net | 3.2 |  |  | 4.4 |  |  | 3.7 |
Other operating expenses, net (2) | 9.0 |  |  | 1.8 |  |  | 0.6 |
Consolidated operating income | $ | 132.0 |  |  | $ | 110.0 |  |  | $ | 112.5 |
Capital expenditures: |  |  |  |  |
HVAC reportable segment | $ | 4.9 |  |  | $ | 5.9 |  |  | $ | 2.7 |
Detection and Measurement reportable segment | 2.7 |  |  | 2.3 |  |  | 1.9 |
Engineered Solutions reportable segment | 8.3 |  |  | 7.0 |  |  | 6.9 |
Other | — |  |  | 0.1 |  |  | 0.1 |
General corporate | 5.6 |  |  | 2.5 |  |  | 0.8 |
Total capital expenditures | $ | 21.5 |  |  | $ | 17.8 |  |  | $ | 12.4 |
Depreciation and amortization: |  |  |  |  |
HVAC reportable segment | $ | 9.4 |  |  | $ | 6.9 |  |  | $ | 5.4 |
Detection and Measurement reportable segment | 17.6 |  |  | 13.2 |  |  | 8.4 |
Engineered Solutions reportable segment | 11.1 |  |  | 10.7 |  |  | 10.6 |
Other | 0.3 |  |  | 0.4 |  |  | 0.5 |
General corporate | 3.3 |  |  | 3.0 |  |  | 3.0 |
Total depreciation and amortization | $ | 41.7 |  |  | $ | 34.2 |  |  | $ | 27.9 |
| 2020 |  | 2019 |  | 2018
Identifiable assets: |  |  |  |  |
HVAC reportable segment | $ | 525.2 |  |  | $ | 611.4 |  |  | $ | 512.6 |
Detection and Measurement reportable segment | 772.5 |  |  | 609.4 |  |  | 479.0 |
Engineered Solutions reportable segment | 435.0 |  |  | 356.5 |  |  | 383.2 |
Other | 42.6 |  |  | 28.6 |  |  | 56.9 |
General corporate and eliminations (3) | 25.5 |  |  | 16.9 |  |  | 73.7 |
Insurance recovery assets (4) | 496.4 |  |  | 509.6 |  |  | 541.9 |
Discontinued operations | 0.5 |  |  | 2.1 |  |  | 10.2 |
Total identifiable assets | $ | 2,297.7 |  |  | $ | 2,134.5 |  |  | $ | 2,057.5 |
Geographic Areas: |  |  |  |  |
Revenues: (5) |  |  |  |  |
United States | $ | 1,363.1 |  |  | $ | 1,376.1 |  |  | $ | 1,291.6 |
China | 41.7 |  |  | 31.1 |  |  | 38.5 |
South Africa (1) | 4.0 |  |  | (6.1) |  |  | 72.6 |
United Kingdom | 88.4 |  |  | 59.0 |  |  | 62.4 |
Other | 62.3 |  |  | 60.8 |  |  | 47.5 |
| $ | 1,559.5 |  |  | $ | 1,520.9 |  |  | $ | 1,512.6 |
Tangible Long-Lived Assets: |  |  |  |  |
United States | $ | 762.1 |  |  | $ | 754.3 |  |  | $ | 831.8 |
Other | 47.9 |  |  | 46.7 |  |  | 28.9 |
Long-lived assets of continuing operations | 810.0 |  |  | 801.0 |  |  | 860.7 |
Long-lived assets of discontinued operations | 0.2 |  |  | 0.4 |  |  | 5.6 |
Total tangible long-lived assets | $ | 810.2 |  |  | $ | 801.4 |  |  | $ | 866.3 |
___________________________________________________________________ (1)As further discussed in Note 15, during the first and second quarters of 2019 and the third quarter of 2018, we made revisions to our estimates of expected revenues and costs on our large power projects in South Africa. As a result of these revisions, we reduced 2019 revenues by $23.5 ($17.5 and $6.0 in the first and second quarters, respectively) and 2018 revenues by $2.7, and 2019 segment income by $23.5 ($17.5 and $6.0 in the first and second quarters, respectively) and 2018 segment income by $4.7. (2)For 2020, includes charges of $9.4 for asbestos product liability matters related to products that we no longer manufacture, net of a gain of $0.4 related to revisions to estimates of certain liabilities retained in connection with the 2016 sale of the dry cooling business. For 2019 and 2018, includes charges of $1.8 and $0.6, respectively, related to revisions to estimates of certain liabilities retained in connection with the 2016 sale of the dry cooling business. (3)General corporate and eliminations is comprised of general corporate assets and includes elimination or netting of intercompany amounts, primarily related to certain deferred tax balances and cash management arrangements. (4)Insurance recovery assets are associated with asbestos product liability matters. Refer to Note 15 for additional details. (5)Revenues are included in the above geographic areas based on the country that recorded the revenue.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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