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INFORMATION ON REPORTABLE SEGMENTS
 6 Months Ended
Jul. 01, 2023
Segment Reporting [Abstract]  
INFORMATION ON REPORTABLE SEGMENTS INFORMATION ON REPORTABLE SEGMENTS
We are a global supplier of highly specialized, engineered solutions with operations in 15 countries and sales in over 100 countries around the world.
We have aggregated our operating segments into the following two reportable segments: HVAC and Detection and Measurement. 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. Segment Income is determined before considering, if applicable, impairment and special charges, long-term incentive compensation, certain other operating income/expense, other indirect corporate expenses, intangible asset amortization expense, inventory step-up charges, and certain other acquisition-related costs. This is consistent with the way our CODM evaluates the results of each segment.
HVAC Reportable Segment
Our HVAC reportable segment engineers, designs, manufactures, installs and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers and electrical 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, transportation systems, communication technologies, and aids to navigation. 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.
Corporate Expense
Corporate expense generally relates to the cost of our Charlotte, North Carolina corporate headquarters.
Financial data for our reportable segments for the three and six months ended July 1, 2023 and July 2, 2022 are presented below:
 Three months ended Six months ended
July 1,
2023		July 2,
2022		July 1,
2023		July 2,
2022
Revenues:  
HVAC reportable segment$269.0 $218.7 $520.6 $411.8 
Detection and Measurement reportable segment154.3 135.3 302.5 249.3 
Consolidated revenues$423.3 $354.0 $823.1 $661.1 
Income:  
HVAC reportable segment$55.2 $28.3 $102.9 $48.9 
Detection and Measurement reportable segment29.2 27.8 55.9 46.8 
Total income for segments84.4 56.1 158.8 95.7 
Corporate expense16.6 16.4 31.2 33.0 
Acquisition-related and other costs (1)
1.5 0.9 2.1 1.0 
Long-term incentive compensation expense3.5 2.5 6.6 5.6 
Amortization of intangible assets11.5 7.1 17.8 16.4 
Special charges, net— 0.1 — 0.1 
Other operating expense— 1.9 — 1.0 
Consolidated operating income$51.3 $27.2 $101.1 $38.6 
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(1)Represents certain acquisition-related costs incurred of $1.5 and $2.1 during the three and six months ended July 1, 2023, respectively, and $0.9 and $1.0 during the three and six months ended July 2, 2022, respectively, including additional “Cost of products sold” related to the step-up of inventory (to fair value) acquired in connection with the ASPEQ acquisition of $1.1 during the three and six months ended July 1, 2023 and the ITL acquisition of $0.9 and $1.0 during the three and six months ended July 2, 2022, respectively.