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Information on Reportable Segments (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Schedule of Reportable and Other Operating Segments | The impact of this change on the Segment Income previously presented for the years ended December 31, 2021 and 2020 is summarized below:
| December 31, 2021 |  | December 31, 2020
| As Previously Presented |  | Effect of Change |  | Current Presentation |  | As Previously Presented |  | Effect of Change |  | Current Presentation
Income: |  |  |  |  |  |  |  |  |  |  |
HVAC reportable segment | $ | 104.2 |  |  | $ | 3.5 |  |  | $ | 107.7 |  |  | $ | 102.7 |  |  | $ | 3.5 |  |  | $ | 106.2 |
Detection and Measurement reportable segment | 69.7 |  |  | 23.2 |  |  | 92.9 |  |  | 69.1 |  |  | 11.8 |  |  | 80.9 |
Total income for segments | 173.9 |  |  | 26.7 |  |  | 200.6 |  |  | 171.8 |  |  | 15.3 |  |  | 187.1 |
Corporate expense | 60.5 |  |  | — |  |  | 60.5 |  |  | 49.7 |  |  | — |  |  | 49.7 |
Acquisition related costs (1) | — |  |  | 5.1 |  |  | 5.1 |  |  | — |  |  | 1.3 |  |  | 1.3 |
Long-term incentive compensation expense | 12.8 |  |  | — |  |  | 12.8 |  |  | 13.1 |  |  | — |  |  | 13.1 |
Amortization of intangible assets | — |  |  | 21.6 |  |  | 21.6 |  |  | — |  |  | 14.0 |  |  | 14.0 |
Impairment of goodwill and intangible assets | 30.0 |  |  | — |  |  | 30.0 |  |  | 0.7 |  |  | — |  |  | 0.7 |
Special charges, net | 1.0 |  |  | — |  |  | 1.0 |  |  | 2.4 |  |  | — |  |  | 2.4 |
Other operating (income) expense, net | (4.1) |  |  | — |  |  | (4.1) |  |  | 9.0 |  |  | — |  |  | 9.0 |
Consolidated operating income | $ | 73.7 |  |  | $ | — |  |  | $ | 73.7 |  |  | $ | 96.9 |  |  | $ | — |  |  | $ | 96.9 |
_______________________________________________________________ (1)Includes cost incurred in connection with acquisitions, including additional “Cost of products sold” related to the step-up of inventory (to fair value) acquired in connection with acquisitions of $2.6 and $0.3 during the years ended December 31, 2021 and 2020, respectively, as well as integration costs of $0.7 and $1.0 during the years ended December 31, 2021 and 2020, respectively. The year ended December 31, 2021 also includes a non-cash impairment charge of $1.8. Financial data for our reportable segments for the years ended December 31, 2022, 2021 and 2020 were as follows:
| 2022 |  | 2021 |  | 2020
Revenues: |  |  |  |  |
HVAC reportable segment | $ | 913.8 |  |  | $ | 752.1 |  |  | $ | 740.8 |
Detection and Measurement reportable segment | 547.1 |  |  | 467.4 |  |  | 387.3 |
Consolidated revenues | $ | 1,460.9 |  |  | $ | 1,219.5 |  |  | $ | 1,128.1 |
Income: |  |  |  |  |
HVAC reportable segment | $ | 135.5 |  |  | $ | 107.7 |  |  | $ | 106.2 |
Detection and Measurement reportable segment | 114.1 |  |  | 92.9 |  |  | 80.9 |
Total income for segments | 249.6 |  |  | 200.6 |  |  | 187.1 |
Corporate expense | 68.6 |  |  | 60.5 |  |  | 49.7 |
Acquisition related and other costs (1) | 1.9 |  |  | 5.1 |  |  | 1.3 |
Long-term incentive compensation expense | 10.9 |  |  | 12.8 |  |  | 13.1 |
Amortization of intangible assets | 28.5 |  |  | 21.6 |  |  | 14.0 |
Impairment of goodwill and intangible assets (2) | 13.4 |  |  | 30.0 |  |  | 0.7 |
Special charges, net | 0.4 |  |  | 1.0 |  |  | 2.4 |
Other operating (income) expense, net (3) | 74.9 |  |  | (4.1) |  |  | 9.0 |
Consolidated operating income | $ | 51.0 |  |  | $ | 73.7 |  |  | $ | 96.9 |
Capital expenditures: |  |  |  |  |
HVAC reportable segment | $ | 10.1 |  |  | $ | 5.3 |  |  | $ | 7.0 |
Detection and Measurement reportable segment | 4.6 |  |  | 3.4 |  |  | 2.7 |
General corporate | 1.2 |  |  | 0.9 |  |  | 5.6 |
Total capital expenditures | $ | 15.9 |  |  | $ | 9.6 |  |  | $ | 15.3 |
Depreciation and amortization: |  |  |  |  |
HVAC reportable segment | $ | 20.5 |  |  | $ | 11.5 |  |  | $ | 11.0 |
Detection and Measurement reportable segment | 23.5 |  |  | 28.0 |  |  | 17.6 |
General corporate | 2.4 |  |  | 2.8 |  |  | 3.3 |
Total depreciation and amortization | $ | 46.4 |  |  | $ | 42.3 |  |  | $ | 31.9 |
| 2022 |  | 2021 |  | 2020
Identifiable assets: |  |  |  |  |
HVAC reportable segment | $ | 853.3 |  |  | $ | 808.4 |  |  | $ | 632.2 |
Detection and Measurement reportable segment | 920.1 |  |  | 835.4 |  |  | 772.5 |
General corporate and eliminations (4) | 114.6 |  |  | 406.4 |  |  | 45.6 |
Insurance recovery assets (5) | — |  |  | 526.2 |  |  | 496.4 |
Discontinued operations | 42.9 |  |  | 52.2 |  |  | 387.0 |
Total identifiable assets | $ | 1,930.9 |  |  | $ | 2,628.6 |  |  | $ | 2,333.7 |
Geographic Areas: |  |  |  |  |
Revenues: (6) |  |  |  |  |
United States | $ | 1,223.5 |  |  | $ | 991.5 |  |  | $ | 935.7 |
China | 51.0 |  |  | 57.9 |  |  | 41.7 |
United Kingdom | 96.5 |  |  | 80.1 |  |  | 88.4 |
Other | 89.9 |  |  | 90.0 |  |  | 62.3 |
| $ | 1,460.9 |  |  | $ | 1,219.5 |  |  | $ | 1,128.1 |
Tangible Long-Lived Assets: |  |  |  |  |
United States | $ | 275.0 |  |  | $ | 762.4 |  |  | $ | 695.6 |
Other | 35.0 |  |  | 37.8 |  |  | 26.8 |
Long-lived assets of continuing operations | 310.0 |  |  | 800.2 |  |  | 722.4 |
Long-lived assets of discontinued operations, DBT and Heat Transfer | 19.3 |  |  | 28.0 |  |  | 109.1 |
Total tangible long-lived assets | $ | 329.3 |  |  | $ | 828.2 |  |  | $ | 831.5 |
_______________________________________________________________ (1)Represents cost incurred in connection with acquisitions of $1.9, $3.3, and $1.3, including additional “Cost of products sold” related to the step-up of inventory (to fair value) acquired in connection with these acquisitions of $1.1, $2.6 and $0.3 during the years ended December 31, 2022, 2021 and 2020, respectively. The year ended December 31, 2021 also includes a non-cash impairment charge of $1.8. (2)The year ended December 31, 2022 includes impairment charges of $12.9 related to the goodwill and trademarks of ULC and $0.5 related to certain other trademarks. The year ended December 31, 2021 includes impairment charges of $29.5 related to the goodwill and trademarks of ULC and $0.5 related to certain other trademarks. The year ended December 31, 2020 includes impairment charges of $0.7 related to certain other trademarks. (3)The year ended December 31, 2022 includes a loss on the Asbestos Portfolio Sale of $73.9 as well as charges of $2.3 for asbestos product liability matters incurred prior to the Asbestos Portfolio Sale, partially offset by a reduction in the fair value/liability associated with contingent consideration related to the ECS acquisition of $1.3. For 2021, includes income of $24.3 and $6.7 related to the reduction of the liabilities associated with contingent consideration for the ULC and ECS acquisitions, respectively, partially offset by charges of (i) $26.3 for asbestos product liability matters and (ii) $0.6 related to revisions to the liability associated with the contingent consideration for the Sensors & Software acquisition. For 2020, includes charges of $9.4 for asbestos product liability matters, net of a gain of $0.4 related to revisions to certain liabilities retained in connection with the 2016 sale of the dry cooling business. (4)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. (5)Insurance recovery assets were associated with asbestos product liability matters. As indicated in Note 1, we divested these assets on November 1, 2022 in connection with the Asbestos Portfolio Sale. Refer to Notes 1 and 4 for additional details. (6)Revenues are included in the above geographic areas based on the country that recorded the revenue.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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