XML 54 R38.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Information on Reportable Segments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Reportable and Other Operating Segments | Financial data for our reportable segments for the years ended December 31, 2024, 2023, and 2022 were as follows:
| 2024 |  | 2023 |  | 2022
HVAC reportable segment |  |  |  |  |
Revenues | $ | 1,364.7 |  |  | $ | 1,122.3 |  |  | $ | 913.8 |
Cost of products sold | 843.8 |  |  | 712.8 |  |  | 636.0 |
Selling, general and administrative expense | 197.0 |  |  | 175.1 |  |  | 142.3 |
Segment income | $ | 323.9 |  |  | $ | 234.4 |  |  | $ | 135.5 |
Detection and Measurement reportable segment |  |  |  |  |
Revenues | $ | 619.2 |  |  | $ | 618.9 |  |  | $ | 547.1 |
Cost of products sold | 338.9 |  |  | 354.8 |  |  | 299.9 |
Selling, general and administrative expense | 143.6 |  |  | 145.3 |  |  | 133.1 |
Segment income | $ | 136.7 |  |  | $ | 118.8 |  |  | $ | 114.1 |
Consolidated revenues | $ | 1,983.9 |  |  | $ | 1,741.2 |  |  | $ | 1,460.9 |
Consolidated income for segments | 460.6 |  |  | 353.2 |  |  | 249.6 |
Corporate expense | 53.6 |  |  | 58.4 |  |  | 68.6 |
Acquisition-related and other costs (1) | 7.2 |  |  | 5.8 |  |  | 1.9 |
Long-term incentive compensation expense | 15.0 |  |  | 13.4 |  |  | 10.9 |
Amortization of acquired intangible assets | 64.5 |  |  | 43.9 |  |  | 28.5 |
Impairment of goodwill and intangible assets (2) | — |  |  | — |  |  | 13.4 |
Special charges, net | 3.6 |  |  | 0.8 |  |  | 0.4 |
Other operating expense, net (3) | 8.4 |  |  | 9.0 |  |  | 74.9 |
Consolidated operating income | $ | 308.3 |  |  | $ | 221.9 |  |  | $ | 51.0 |
Capital expenditures: |  |  |  |  |
HVAC reportable segment | $ | 31.9 |  |  | $ | 17.6 |  |  | $ | 10.1 |
Detection and Measurement reportable segment | 5.5 |  |  | 5.4 |  |  | 4.6 |
General corporate | 0.6 |  |  | 0.9 |  |  | 1.2 |
Total capital expenditures | $ | 38.0 |  |  | $ | 23.9 |  |  | $ | 15.9 |
Depreciation and amortization: |  |  |  |  |
HVAC reportable segment | $ | 64.7 |  |  | $ | 37.1 |  |  | $ | 20.5 |
Detection and Measurement reportable segment | 24.4 |  |  | 23.7 |  |  | 23.5 |
General corporate | 2.5 |  |  | 2.4 |  |  | 2.4 |
Total depreciation and amortization | $ | 91.6 |  |  | $ | 63.2 |  |  | $ | 46.4 |
Geographic Areas: |  |  |  |  |
Revenues: (4) |  |  |  |  |
United States | $ | 1,640.8 |  |  | $ | 1,454.1 |  |  | $ | 1,223.5 |
Canada | 111.3 |  |  | 48.4 |  |  | 17.3 |
China | 64.9 |  |  | 53.7 |  |  | 51.0 |
United Kingdom | 90.9 |  |  | 96.3 |  |  | 96.5 |
Other | 76.0 |  |  | 88.7 |  |  | 72.6 |
| $ | 1,983.9 |  |  | $ | 1,741.2 |  |  | $ | 1,460.9 |
Tangible Long-Lived Assets: |  |  |  |  |
United States | $ | 275.5 |  |  | $ | 292.4 |  |  | $ | 275.0 |
Canada | 83.3 |  |  | 11.9 |  |  | 3.3 |
Other | 25.7 |  |  | 29.1 |  |  | 31.7 |
Long-lived assets of continuing operations | 384.5 |  |  | 333.4 |  |  | 310.0 |
Long-lived assets of discontinued operations, DBT and Heat Transfer | — |  |  | 0.2 |  |  | 19.3 |
Total tangible long-lived assets | $ | 384.5 |  |  | $ | 333.6 |  |  | $ | 329.3 |
_______________________________________________________________ (1)Represents integration costs incurred in connection with acquisitions of $7.2, $5.8, and $1.9, including additional “Cost of products sold” related to the step-up of inventory (to fair value) acquired in connection with these acquisitions of $1.8, $3.6 and $1.1, during the years ended December 31, 2024, 2023 and 2022, respectively. (2)The year ended December 31, 2022 includes impairment charges of $12.9 related to the goodwill and trademarks of our ULC Robotics (“ULC”) business and $0.5 related to certain other trademarks. (3)The year ended December 31, 2024 includes a charge of $8.4 related to a settlement with the seller of ULC regarding additional contingent consideration. The year ended December 31, 2023 includes a charge of $9.0 related to the resolution of a dispute with a former representative at one of our businesses within the Detection and Measurement reportable segment. 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 acquisition of Enterprise Control Systems Ltd (“ECS”), which was completed in 2021, of $1.3. (4)Revenues are included in the above geographic areas based on the country that recorded the revenue.

X
- 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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration