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INFORMATION ON REPORTABLE SEGMENTS AND CORPORATE EXPENSE
 6 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
INFORMATION ON REPORTABLE SEGMENTS AND CORPORATE EXPENSE INFORMATION ON REPORTABLE SEGMENTS AND CORPORATE EXPENSE
We are a diversified, global supplier of highly specialized, engineered solutions with operations in 16 countries and sales in over 100 countries around the world.
In determining our reportable segments, we apply the threshold criteria of the Segment Reporting Topic of the Financial Accounting Standards Board Codification (the “Codification”). 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.
Our CODM, who is our President and Chief Executive Officer, uses segment income to evaluate the results of each operating segment. Segment income is determined before considering, if applicable, impairments 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 and integration-related costs. There have been no changes in the basis of segmentation or measurement of segment income during 2026. Our CODM assesses segment income performance in comparison to prior years, previously forecasted results, and anticipated/experienced market trends when determining how to allocate operating and capital resources. The only significant segment expense categories reviewed by our CODM are total selling, general and administrative expense and cost of products sold (exclusive of intangible amortization expense). Our CODM does not review asset or liability information for our operating segments as this information is not used to assess performance or allocate resources.
HVAC Reportable Segment
Our HVAC reportable segment engineers, designs, manufactures, installs and services package and process cooling equipment and engineered air movement and handling solutions for the HVAC industrial (including data center and power generation), institutional, and commercial markets, as well as hydronic and electrical heating and ventilation products for the residential, industrial, institutional, 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 global 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 in North America, Europe, Africa and Asia.
Corporate Expense
Corporate expense primarily relates to the personnel and general operating costs of our corporate headquarters based in Charlotte, North Carolina.
Financial data for our reportable segments for the three and six months ended June 27, 2026 and June 28, 2025 are presented below:
 Three months ended Six months ended
June 27,
2026		June 28,
2025		June 27,
2026		June 28,
2025
HVAC reportable segment
Revenues$480.6 $376.7 $874.6 $699.7 
Cost of products sold307.2 226.1 553.8 425.7 
Selling, general and administrative expense63.6 54.8 122.4 104.3 
Segment income$109.8 $95.8 $198.4 $169.7 
Detection and Measurement reportable segment
Revenues$198.4 $175.7 $371.2 $335.3 
Cost of products sold98.1 96.9 186.3 183.7 
Selling, general and administrative expense43.0 38.8 80.9 75.0 
Segment income$57.3 $40.0 $104.0 $76.6 
Consolidated revenues$679.0 $552.4 $1,245.8 $1,035.0 
Consolidated income for segments167.1 135.8 302.4 246.3 
Corporate expense15.8 13.3 30.3 27.3 
Acquisition and integration-related costs (1)
3.2 6.9 8.2 13.3 
Long-term incentive compensation expense4.3 3.9 8.0 7.6 
Amortization of acquired intangible assets (2)
27.2 24.6 51.4 44.3 
Special charges, net1.6 — 1.8 0.1 
Other operating expense, net — 0.5 — 0.5 
Consolidated operating income115.0 86.6 202.7 153.2 
Other income (expense), net(5.1)(2.1)(8.1)0.6 
Interest expense(8.8)(15.6)(17.2)(27.9)
Interest income1.1 1.0 2.2 1.9 
Income from continuing operations before income taxes$102.2 $69.9 $179.6 $127.8 
Capital expenditures:
HVAC reportable segment$18.9 $6.1 $35.2 $10.8 
Detection and Measurement reportable segment2.2 1.6 4.2 2.4 
Capital expenditures of reportable segments21.1 7.7 39.4 13.2 
Corporate— — 0.2 — 
Total capital expenditures$21.1 $7.7 $39.6 $13.2 
Depreciation and amortization:
HVAC reportable segment$25.2 $18.9 $47.1 $35.8 
Detection and Measurement reportable segment10.0 13.0 19.6 22.5 
Depreciation and amortization of reportable segments35.2 31.9 66.7 58.3 
Corporate0.5 0.6 1.1 1.2 
Total depreciation and amortization$35.7 $32.5 $67.8 $59.5 
Three months endedSix months ended
June 27,
2026		June 28,
2025		June 27,
2026		June 28,
2025
Geographic Areas:
Revenues: (3)
United States$538.0 $438.9 $985.6 $841.9 
Canada68.4 49.7 130.8 79.9 
China23.5 21.7 40.5 34.7 
United Kingdom21.6 22.5 42.9 39.9 
Other27.5 19.6 46.0 38.6 
$679.0 $552.4 $1,245.8 $1,035.0 
June 27, 2026December 31, 2025
Tangible Long-Lived Assets:
United States$457.0 $419.4 
Canada87.6 88.2 
Other36.9 35.6 
Long-lived assets of continuing operations581.5 543.2 
Long-lived assets of discontinued operations, DBT and Heat Transfer— — 
Total tangible long-lived assets$581.5 $543.2 
________________________________
(1)Represents acquisition and integration-related costs incurred in connection with acquisitions of $3.2 and $8.2 during the three and six months ended June 27, 2026, respectively, and $6.9 and $13.3 during the three and six months ended June 28, 2025, respectively, including additional “Cost of products sold” related to the step-up of inventory (to fair value) acquired in connection with the Thermolec and Crawford acquisitions of $0.4 and $0.1 during the six months ended June 27, 2026, respectively, and the KTS acquisition of $0.5 and $0.8 during the three and six months ended June 28, 2025, respectively.
(2)Includes intangible asset amortization of $0.9 and $1.8 recorded in cost of products sold within the condensed consolidated statement of operations for the three and six months ended June 27, 2026, respectively.
(3)Revenues are included in the above geographic areas based on the country that recorded the revenue.