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Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of Reportable and Product Sales Information Segments

The following table represents information for our reportable segments and our corporate function:

	Three Months Ended September 30, 2019
	E&C Cryogenics				E&C FinFans				D&S West				D&S East				Intersegment Eliminations				Corporate				Consolidated
Sales to external customers (1) (2)	$	48.9			$	128.6			$	114.9			$	70.4			$	(5.0	)		$	—			$	357.8
Depreciation and amortization expense	2.0				15.1				2.9				3.7				—				0.4				24.1
Operating income (loss) (1) - (4)	3.6				16.2				24.9				7.1				(0.9		)		(21.0		)		29.9
Capital expenditures	0.9				1.0				2.4				3.8				—				3.5				11.6

	Three Months Ended September 30, 2018
	E&C Cryogenics				E&C FinFans				D&S West				D&S East				Intersegment Eliminations				Corporate				Consolidated
Sales to external customers	$	35.6			$	62.5			$	119.0			$	56.8			$	(1.7	)		$	—			$	272.2
Depreciation and amortization expense	2.5				4.0				2.8				2.5				—				0.3				12.1
Operating income (loss) (3) - (7)	6.4				5.7				31.9				3.3				(0.5		)		(15.3		)		31.5
Capital expenditures	2.9				0.9				1.3				2.5				—				0.8				8.4

	Nine Months Ended September 30, 2019
	E&C Cryogenics				E&C FinFans				D&S West				D&S East				Intersegment Eliminations				Corporate				Consolidated
Sales to external customers (1) (2)	$	131.3			$	272.0			$	344.8			$	216.8			$	(8.2	)		$	—			$	956.7
Depreciation and amortization expense	11.1				23.3				8.7				11.9				—				1.1				56.1
Operating income (loss) (1) - (6)	(7.1		)		36.0				77.7				7.1				(2.5		)		(51.4		)		59.8
Capital expenditures	4.0				1.9				6.2				9.7				—				4.9				26.7

	Nine Months Ended September 30, 2018
	E&C Cryogenics				E&C FinFans				D&S West				D&S East				Intersegment Eliminations				Corporate				Consolidated
Sales to external customers	$	98.6			$	190.2			$	337.2			$	174.3			$	(6.1	)		$	—			$	794.2
Depreciation and amortization expense	7.5				12.1				8.4				7.9				—				1.0				36.9
Operating income (loss) (3) (4) (6) (7)	2.9				17.9				77.7				13.5				(1.7		)		(44.5		)		65.8
Capital expenditures	9.9				2.0				4.7				6.0				—				3.8				26.4

_______________

⁽¹⁾  Includes sales and operating loss for AXC, included in the E&C FinFans segment results since the acquisition date, July 1, 2019 as follows:

• Sales were $60.1 for both the three and nine months ended September 30, 2019.

• Operating income was $2.6 for both the three and nine months ended September 30, 2019.

⁽²⁾  Includes sales and operating income (loss) for VRV S.r.l and its subsidiaries (“VRV”), included in the E&C Cryogenics and D&S East segment results since the acquisition date, November 15, 2018 as follows:

• Sales were $25.9 (E&C Cryogenics: $13.5, D&S East: $12.4) for the three months ended September 30, 2019.

• Sales were $77.0 (E&C Cryogenics: $35.0, D&S East: $42.0) for the nine months ended September 30, 2019.

• Operating income (loss) was $2.4 (E&C Cryogenics: $2.6, D&S East: $(0.2)) for the three months ended September 30, 2019.

• Operating loss was $(6.8) (E&C Cryogenics: $(3.0), D&S East: $(3.8)) for the nine months ended September 30, 2019, which includes VRV inventory step-up of $1.7.

⁽³⁾  Restructuring costs for the:

• Three Months Ended September 30, 2019 were $1.5 ($0.2 E&C Cryogenics, $0.6 E&C FinFans, $0.4 D&S West, $0.3 D&S East).

• Three Months Ended September 30, 2018 were $2.0 ($0.1 E&C FinFans, $0.1 D&S East, $1.8 Corporate).

• Nine Months Ended September 30, 2019 were $13.3 ($2.4 E&C Cryogenics, $1.8 E&C FinFans, $0.8 D&S West, $8.1 D&S East, $0.2 Corporate).

• Nine Months Ended September 30, 2018 were $3.5 ($0.4 E&C Cryogenics, $0.1 E&C FinFans, $0.6 D&S East, $2.4 Corporate).

⁽⁴⁾  Corporate includes transaction-related costs of: (transaction-related costs include costs associated with business development and other one-time transactions)

• $4.3 and $2.0 for the three months ended September 30, 2019 and 2018, respectively, and

• $7.0 and $4.1 for the nine months ended September 30, 2019 and 2018, respectively.

⁽⁵⁾  Includes $0.8 related to AXC integration activities during the third quarter of 2019 (E&C FinFans: $0.7, Corporate: $0.1), and $0.6 (D&S East: $0.2, Corporate: $0.4) and $1.8 (D&S East: $0.2, Corporate: $1.6) related to VRV integration activities for the three and nine months ended September 30, 2019, respectively.

⁽⁶⁾  Includes an expense of $3.8 recorded to cost of sales related to the estimated costs of the aluminum cryobiological tank recall for the nine months ended September 30, 2018.

⁽⁷⁾  Includes net severance costs of $0.9 related to headcount reductions associated with strategic realignment of our segment structure, which includes $1.8 in payroll severance costs partially offset by a $0.9 credit due to related share-based compensation forfeitures for the nine months ended September 30, 2018. Includes net severance costs of $1.4 related to the departure of our former CEO on June 11, 2018, which includes $3.2 in payroll severance costs partially offset by a $1.8 credit due to share-based compensation forfeitures for the nine months ended September 30, 2018.

Product Sales Information

	Three Months Ended September 30, 2019
	E&C Cryogenics				E&C FinFans				D&S West				D&S East				Intersegment Eliminations				Consolidated
Natural gas processing (including petrochemical) applications	$	17.6			$	88.6			$	—			$	1.0			$	(1.5	)		$	105.7
Liquefied natural gas (LNG) applications	17.3				11.0				16.1				10.2				(0.1		)		54.5
Industrial gas applications	6.7				—				—				—				—				6.7
HVAC, power and refining applications	7.3				29.0				—				—				(0.6		)		35.7
Bulk industrial gas applications	—				—				40.7				48.2				(2.2		)		86.7
Packaged gas industrial applications	—				—				38.3				11.0				(0.6		)		48.7
Cryobiological storage	—				—				19.8				—				—				19.8
Total	$	48.9			$	128.6			$	114.9			$	70.4			$	(5.0	)		$	357.8

	Three Months Ended September 30, 2018
	E&C Cryogenics				E&C FinFans				D&S West				D&S East				Intersegment Eliminations				Consolidated
Natural gas processing (including petrochemical) applications	$	17.2			$	43.1			$	—			$	—			$	—			$	60.3
Liquefied natural gas (LNG) applications	3.4				9.0				20.5				11.8				(0.4		)		44.3
Industrial gas applications	3.3				3.3				—				—				—				6.6
HVAC, power and refining applications	11.7				7.1				—				—				—				18.8
Bulk industrial gas applications	—				—				41.1				31.8				(0.4		)		72.5
Packaged gas industrial applications	—				—				37.2				13.2				(0.9		)		49.5
Cryobiological storage	—				—				20.2				—				—				20.2
Total	$	35.6			$	62.5			$	119.0			$	56.8			$	(1.7	)		$	272.2

	Nine Months Ended September 30, 2019
	E&C Cryogenics				E&C FinFans				D&S West				D&S East				Intersegment Eliminations				Consolidated
Natural gas processing (including petrochemical) applications	$	64.1			$	193.9			$	—			$	1.0			$	(1.5	)		$	257.5
Liquefied natural gas (LNG) applications	26.5				32.2				58.2				38.6				(0.1		)		155.4
Industrial gas applications	17.3				—				—				—				—				17.3
HVAC, power and refining applications	23.4				45.9				—				—				(0.6		)		68.7
Bulk industrial gas applications	—				—				114.2				136.3				(3.0		)		247.5
Packaged gas industrial applications	—				—				109.8				40.9				(3.0		)		147.7
Cryobiological storage	—				—				62.6				—				—				62.6
Total	$	131.3			$	272.0			$	344.8			$	216.8			$	(8.2	)		$	956.7

	Nine Months Ended September 30, 2018
	E&C Cryogenics				E&C FinFans				D&S West				D&S East				Intersegment Eliminations				Consolidated
Natural gas processing (including petrochemical) applications	$	53.1			$	134.9			$	—			$	—			$	—			$	188.0
Liquefied natural gas (LNG) applications	11.7				16.8				54.4				48.3				(2.0		)		129.2
Industrial gas applications	13.0				—				—				—				—				13.0
HVAC, power and refining applications	20.8				38.5				—				—				—				59.3
Bulk industrial gas applications	—				—				105.7				85.8				(1.2		)		190.3
Packaged gas industrial applications	—				—				117.8				40.2				(2.9		)		155.1
Cryobiological storage	—				—				59.3				—				—				59.3
Total	$	98.6			$	190.2			$	337.2			$	174.3			$	(6.1	)		$	794.2

Segment Assets

Total Assets		September 30, 2019				December 31, 2018
E&C Cryogenics		$	447.1			$	455.0
E&C FinFans		1,045.6				434.2
D&S West		441.4				420.3
D&S East		497.2				496.1
Corporate		66.5				92.1
Total		$	2,497.8			$	1,897.7

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- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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