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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and equivalents $ 156.9 $ 99.4
Accounts receivable, net 313.6 279.8
Contract assets 11.3 16.6
Inventories, net 271.0 276.7
Other current assets 31.5 37.1
Total current assets 784.3 709.6
Property, plant and equipment:    
Land 23.5 17.9
Buildings and leasehold improvements 113.3 73.4
Machinery and equipment 308.1 264.4
Property, plant and equipment, gross 444.9 355.7
Accumulated depreciation (226.9) (215.2)
Property, plant and equipment, net 218.0 140.5
Goodwill 834.5 704.8
Intangibles, net 703.0 680.8
Other assets 164.1 188.9
Deferred income taxes 2.4 4.0
Assets of DBT and Heat Transfer (includes cash and equivalents of $4.5 and $5.5 at December 31, 2024 and 2023, respectively) (Note 4) 8.2 11.1
TOTAL ASSETS 2,714.5 2,439.7
Current liabilities:    
Accounts payable 128.1 118.7
Contract liabilities 62.3 73.5
Accrued expenses 170.8 168.5
Income taxes payable 19.4 5.3
Short-term debt 10.1 17.9
Current maturities of long-term debt 27.6 17.3
Total current liabilities 418.3 401.2
Long-term debt 577.0 523.1
Deferred and other income taxes 97.8 77.0
Other long-term liabilities 224.2 204.1
Liabilities of DBT and Heat Transfer (Note 4) 12.8 39.7
Total long-term liabilities 911.8 843.9
Commitments and contingent liabilities (Note 15)
Stockholders' equity:    
Common stock (54,196,620 and 46,368,240 issued and outstanding at December 31, 2024, respectively, and 53,618,720 and 45,674,572 issued and outstanding at December 31, 2023, respectively) 0.5 0.5
Paid-in capital 1,373.5 1,353.6
Retained earnings 238.8 38.3
Accumulated other comprehensive income 223.6 261.1
Common stock in treasury (7,828,380 and 7,944,148 shares at December 31, 2024 and 2023, respectively) (452.0) (458.9)
Total stockholders' equity 1,384.4 1,194.6
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,714.5 $ 2,439.7