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Reportable Segments | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Reportable Segments | Reportable Segments As reported in our Annual Report on Form 10-K for the year ended December 31, 2019, the structure of our internal organization is divided into the following reportable segments, which are also our operating segments: Distribution and Storage Eastern Hemisphere (“D&S East”), D&S West, Energy & Chemicals Cryogenics (“E&C Cryogenics”), and Energy & Chemicals FinFans (“E&C FinFans”). Our D&S East segment has principal operations in Europe and Asia and primarily serves the geographic regions of Europe, Middle East and Asia. Our D&S West segment has principal operations in the United States and Latin America and primarily serves the Americas geographic region. E&C Cryogenics supplies critical engineered equipment and systems used in the separation, liquefaction, and purification of hydrocarbon and industrial gases that span gas-to-liquid applications. The E&C FinFans segment is focused on our unique and broad product offering and capabilities in air cooled heat exchangers (“ACHX”) and fans. Corporate includes operating expenses for executive management, accounting, tax, treasury, corporate development, human resources, information technology, investor relations, legal, internal audit, and risk management. Corporate support functions are not currently allocated to the segments. Our chief operating decision maker forms decisions about how to allocate resources to and evaluates performance of each of our segments based on operating income or loss as determined in our consolidated statements of income and comprehensive income. Segment Financial Information
| Three Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
| D&S East |  | D&S West |  | E&C Cryogenics |  | E&C FinFans |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales to external customers | $ | 85.1 |  |  | $ | 91.1 |  |  | $ | 64.8 |  |  | $ | 40.5 |  |  | $ | (8.3) |  |  | $ | — |  |  | $ | 273.2 |
Depreciation and amortization expense | 3.9 |  |  | 2.9 |  |  | 3.7 |  |  | 8.2 |  |  | — |  |  | 0.5 |  |  | 19.2 |
Operating income (loss) (1) (2) | 9.9 |  |  | 19.7 |  |  | 15.6 |  |  | (1.7) |  |  | — |  |  | (15.4) |  |  | 28.1 |
Capital expenditures | 3.7 |  |  | 1.6 |  |  | 0.2 |  |  | 0.1 |  |  | — |  |  | 0.5 |  |  | 6.1 |
| Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
| D&S East |  | D&S West |  | E&C Cryogenics |  | E&C FinFans |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales to external customers | $ | 70.4 |  |  | $ | 93.3 |  |  | $ | 48.9 |  |  | $ | 128.6 |  |  | $ | (3.2) |  |  | $ | — |  |  | $ | 338.0 |
Depreciation and amortization expense | 3.7 |  |  | 2.6 |  |  | 2.0 |  |  | 15.1 |  |  | — |  |  | 0.4 |  |  | 23.8 |
Operating income (loss) (1) (2) (4) | 7.1 |  |  | 17.8 |  |  | 3.6 |  |  | 16.2 |  |  | (0.2) |  |  | (21.0) |  |  | 23.5 |
Capital expenditures | 3.8 |  |  | 2.2 |  |  | 0.9 |  |  | 1.0 |  |  | — |  |  | 3.5 |  |  | 11.4 |
| Nine Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
| D&S East |  | D&S West |  | E&C Cryogenics |  | E&C FinFans |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales to external customers | $ | 234.8 |  |  | $ | 269.5 |  |  | $ | 190.7 |  |  | $ | 185.3 |  |  | $ | (15.6) |  |  | $ | — |  |  | $ | 864.7 |
Depreciation and amortization expense | 10.9 |  |  | 8.3 |  |  | 11.1 |  |  | 34.4 |  |  | — |  |  | 1.4 |  |  | 66.1 |
Operating income (loss) (1) (2) (3) | 24.9 |  |  | 58.7 |  |  | 38.6 |  |  | (0.8) |  |  | — |  |  | (51.7) |  |  | 69.7 |
Capital expenditures | 12.3 |  |  | 8.4 |  |  | 1.7 |  |  | 1.0 |  |  | — |  |  | 3.5 |  |  | 26.9 |
| Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
| D&S East |  | D&S West |  | E&C Cryogenics |  | E&C FinFans |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales to external customers | $ | 216.8 |  |  | $ | 280.0 |  |  | $ | 131.3 |  |  | $ | 272.0 |  |  | $ | (6.0) |  |  | $ | — |  |  | $ | 894.1 |
Depreciation and amortization expense | 11.9 |  |  | 7.8 |  |  | 11.1 |  |  | 23.3 |  |  | — |  |  | 1.1 |  |  | 55.2 |
Operating income (loss) (1) (2) (4) | 7.1 |  |  | 52.9 |  |  | (7.1) |  |  | 36.0 |  |  | (0.9) |  |  | (51.4) |  |  | 36.6 |
Capital expenditures | 9.7 |  |  | 5.5 |  |  | 4.0 |  |  | 1.9 |  |  | — |  |  | 4.9 |  |  | 26.0 |
_______________ (1)Includes sales and operating income (loss) for AXC, included in the E&C FinFans segment results since the acquisition date, July 1, 2019 as follows: •Sales and operating loss were $71.3 and $17.3, for the nine months ended September 30, 2020, respectively. •Sales and operating income were $60.1 and $2.6, for both the three and nine months ended September 30, 2019, respectively. (2)Restructuring costs for the: •three months ended September 30, 2020 were $1.9 ($0.1 - D&S East, $0.2 - D&S West, $1.1 - E&C FinFans, $0.5 - Corporate). •three months ended September 30, 2019 were $1.5 ($0.3 - D&S East, $0.4 - D&S West, $0.2 - E&C Cryogenics, $0.6 - E&C FinFans). •nine months ended September 30, 2020 were $12.7 ($2.0 - D&S East, $1.2 - D&S West, $0.8 - E&C Cryogenics, $6.0 - E&C FinFans, and $2.7 - Corporate). •nine months ended September 30, 2019 were $13.3 ($8.1 - D&S East, $0.8 - D&S West, $2.4 - E&C Cryogenics, $1.8 - E&C FinFans, and $0.2 - Corporate). (3)Includes a $2.6 gain on sale of a facility in China for the nine months ended September 30, 2020 recorded within our D&S East segment. (4)Corporate includes transaction-related costs of $4.3 and $7.0 for the three and nine months ended September 30, 2019, respectively (includes costs associated with business development and other one-time transactions). Product Sales Information
| Three Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |
| D&S East |  | D&S West |  | E&C Cryogenics |  | E&C FinFans |  | Intersegment Eliminations |  | Consolidated
Natural gas processing (including petrochemical) and industrial gas applications | $ | — |  |  | $ | — |  |  | $ | 24.6 |  |  | $ | 27.1 |  |  | $ | — |  |  | $ | 51.7 |
Liquefied natural gas (LNG) applications | 24.0 |  |  | 27.2 |  |  | 34.3 |  |  | 6.8 |  |  | (3.2) |  |  | 89.1 |
HVAC, power and refining applications | — |  |  | — |  |  | 5.9 |  |  | 6.6 |  |  | (0.2) |  |  | 12.3 |
Bulk industrial gas applications | 45.9 |  |  | 31.7 |  |  | — |  |  | — |  |  | (0.9) |  |  | 76.7 |
Packaged gas industrial applications | 15.2 |  |  | 32.2 |  |  | — |  |  | — |  |  | (4.0) |  |  | 43.4 |
Total | $ | 85.1 |  |  | $ | 91.1 |  |  | $ | 64.8 |  |  | $ | 40.5 |  |  | $ | (8.3) |  |  | $ | 273.2 |
| Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |
| D&S East |  | D&S West |  | E&C Cryogenics |  | E&C FinFans |  | Intersegment Eliminations |  | Consolidated
Natural gas processing (including petrochemical) and industrial gas applications | $ | 1.0 |  |  | $ | — |  |  | $ | 24.3 |  |  | $ | 88.6 |  |  | $ | (1.5) |  |  | $ | 112.4 |
Liquefied natural gas (LNG) applications | 10.2 |  |  | 16.5 |  |  | 17.3 |  |  | 11.0 |  |  | (0.1) |  |  | 54.9 |
HVAC, power and refining applications | — |  |  | — |  |  | 7.3 |  |  | 29.0 |  |  | (0.6) |  |  | 35.7 |
Bulk industrial gas applications | 48.2 |  |  | 39.5 |  |  | — |  |  | — |  |  | (1.0) |  |  | 86.7 |
Packaged gas industrial applications | 11.0 |  |  | 37.3 |  |  | — |  |  | — |  |  | — |  |  | 48.3 |
Total | $ | 70.4 |  |  | $ | 93.3 |  |  | $ | 48.9 |  |  | $ | 128.6 |  |  | $ | (3.2) |  |  | $ | 338.0 |
| Nine Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |
| D&S East |  | D&S West |  | E&C Cryogenics |  | E&C FinFans |  | Intersegment Eliminations |  | Consolidated
Natural gas processing (including petrochemical) and industrial gas applications | $ | 0.9 |  |  | $ | — |  |  | $ | 69.7 |  |  | $ | 131.2 |  |  | $ | (0.3) |  |  | $ | 201.5 |
Liquefied natural gas (LNG) applications | 65.8 |  |  | 60.7 |  |  | 102.3 |  |  | 25.3 |  |  | (7.1) |  |  | 247.0 |
HVAC, power and refining applications | — |  |  | — |  |  | 18.7 |  |  | 28.8 |  |  | (0.5) |  |  | 47.0 |
Bulk industrial gas applications | 129.5 |  |  | 102.9 |  |  | — |  |  | — |  |  | (2.1) |  |  | 230.3 |
Packaged gas industrial applications | 38.6 |  |  | 105.9 |  |  | — |  |  | — |  |  | (5.6) |  |  | 138.9 |
Total | $ | 234.8 |  |  | $ | 269.5 |  |  | $ | 190.7 |  |  | $ | 185.3 |  |  | $ | (15.6) |  |  | $ | 864.7 |
| Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |
| D&S East |  | D&S West |  | E&C Cryogenics |  | E&C FinFans |  | Intersegment Eliminations |  | Consolidated
Natural gas processing (including petrochemical) and industrial gas applications | $ | 1.0 |  |  | $ | — |  |  | $ | 81.4 |  |  | $ | 193.9 |  |  | $ | (1.5) |  |  | $ | 274.8 |
Liquefied natural gas (LNG) applications | 38.6 |  |  | 58.2 |  |  | 26.5 |  |  | 32.2 |  |  | (0.1) |  |  | 155.4 |
HVAC, power and refining applications | — |  |  | — |  |  | 23.4 |  |  | 45.9 |  |  | (0.6) |  |  | 68.7 |
Bulk industrial gas applications | 136.3 |  |  | 113.0 |  |  | — |  |  | — |  |  | (1.8) |  |  | 247.5 |
Packaged gas industrial applications | $ | 40.9 |  |  | $ | 108.8 |  |  | $ | — |  |  | $ | — |  |  | $ | (2.0) |  |  | $ | 147.7 |
Total | $ | 216.8 |  |  | $ | 280.0 |  |  | $ | 131.3 |  |  | $ | 272.0 |  |  | $ | (6.0) |  |  | $ | 894.1 |
Total Assets |  | September 30, 2020 |  | December 31, 2019
D&S East |  | $ | 531.9 |  |  | $ | 528.6 |
D&S West |  | 377.7 |  |  | 349.0 |
E&C Cryogenics |  | 424.4 |  |  | 430.3 |
E&C FinFans |  | 983.4 |  |  | 1,028.0 |
Corporate |  | 66.1 |  |  | 76.9 |
Discontinued Operations |  | 69.4 |  |  | 68.6 |
Total |  | $ | 2,452.9 |  |  | $ | 2,481.4 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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