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Financial Instruments and Derivative Financial Instruments | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Financial Instruments and Derivative Financial Instruments | Financial Instruments and Derivative Financial Instruments Concentrations of Credit Risks: We sell our products to gas producers, distributors and end-users across the industrial gas, hydrocarbon, chemical processing, respiratory therapy, and cryobiological storage industries in countries all over the world. Approximately 51%, 48%, and 43% of sales were to customers in foreign countries in 2020, 2019 and 2018, respectively. In 2020 and 2019, no single customer accounted for more than 10% of consolidated sales. Sales to Linde exceeded 10% of consolidated sales in 2018 on a combined basis and represented approximately $119.9 or 11.9% of consolidated sales in 2018 (attributable to all of our segments). Sales to our top ten customers accounted for 42%, 34% and 41% of consolidated sales in 2020, 2019 and 2018, respectively. Our sales to particular customers fluctuate from period to period, but the large industrial gas producer and distributor customers of ours tend to be a consistently large source of revenue for us. We are subject to concentrations of credit risk with respect to our cash and cash equivalents, restricted cash and restricted cash equivalents and forward foreign currency exchange contracts. To minimize credit risk from these financial instruments, we enter into arrangements with major banks and other quality financial institutions and invest only in high-quality instruments. We do not expect any counterparties to fail to meet their obligations. The changes in fair value with respect to our foreign currency forward contracts generated a net gain of $1.3 for the year ended December 31, 2020, a net gain of $0.7 for the year ended December 31, 2019 and a net loss of $0.8 for the year ended December 31, 2018. Changes in the fair value of our foreign currency forward contracts are recorded in the consolidated statements of income as foreign currency gains or losses.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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