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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Segments and Geographic Information | Segment and Geographic Information Prior to October 1, 2020, the structure of our internal organization was divided into the following reportable segments, which were also our operating segments: D&S East, D&S West, E&C Cryogenics and E&C FinFans. Effective October 1, 2020, we changed our reportable segments to the following four reportable segments, which are also our operating segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair Service & Leasing. Our Cryo Tank Solutions segment, which has principal operations in the United States, Europe and Asia and primarily serves the geographic regions of the Americas, Europe, Middle East and Asia, supplies bulk, microbulk and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases. Our Heat Transfer Systems segment, which has principal operations in the United States, Europe and India and primarily serves the geographic regions of the Americas, Europe, Middle East and India, supplies mission critical engineered equipment and systems used in the separation, liquefaction, and purification of hydrocarbon and industrial gases that span gas-to-liquid applications. Our Specialty Products segment with locations globally supplies products used in our specialty market applications including hydrogen, HLNG vehicle tanks, food and beverage, space exploration, lasers, cannabis and water treatment, amongst others. Our Repair, Service & Leasing segment, which includes repair and service centers globally, provides installation, service, repair, maintenance, and refurbishment of cryogenic products as well as global equipment leasing solutions. 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. All prior period amounts presented in the tables below have been reclassified based on our current reportable segments. We evaluate performance and allocate resources based on operating income as determined in our consolidated statements of income. Segment Financial Information
| Year Ended December 31, 2020
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 415.8 |  |  | $ | 369.8 |  |  | $ | 242.6 |  |  | $ | 158.3 |  |  | $ | (9.4) |  |  | $ | — |  |  | $ | 1,177.1 |
Depreciation and amortization expense | 18.5 |  |  | 48.3 |  |  | 4.8 |  |  | 10.9 |  |  | — |  |  | 2.0 |  |  | 84.5
Operating income (loss) (1) (2) (3) | 52.5 |  |  | 11.2 |  |  | 60.7 |  |  | 30.3 |  |  | — |  |  | (62.5) |  |  | 92.2
| Year Ended December 31, 2019
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 409.9 |  |  | $ | 441.7 |  |  | $ | 207.9 |  |  | $ | 162.6 |  |  | $ | (6.6) |  |  | $ | — |  |  | $ | 1,215.5 |
Depreciation and amortization expense | 19.5 |  |  | 42.0 |  |  | 4.9 |  |  | 9.7 |  |  | — |  |  | 1.6 |  |  | 77.7 |
Operating income (loss) (1) (4) | 25.7 |  |  | 17.7 |  |  | 48.1 |  |  | 27.9 |  |  | — |  |  | (67.4) |  |  | 52.0 |
| Year Ended December 31, 2018
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 371.4 |  |  | $ | 289.8 |  |  | $ | 184.5 |  |  | $ | 160.4 |  |  | $ | (2.2) |  |  | $ | — |  |  | $ | 1,003.9 |
Depreciation and amortization expense | 13.9 |  |  | 21.7 |  |  | 4.7 |  |  | 7.9 |  |  | — |  |  | 1.5 |  |  | 49.7 |
Operating income (loss) (1) (5) (6) | 41.1 |  |  | 8.7 |  |  | 44.8 |  |  | 21.2 |  |  | — |  |  | (51.3) |  |  | 64.5 |
_______________ (1) Restructuring costs (credits) for the years ended: •December 31, 2020 were $13.6 ($2.7 – Cryo Tank Solutions $7.4 – Heat Transfer Systems, $0.7 – Specialty Products, $0.2 – Repair, Service & Leasing and $2.6 – Corporate); •December 31, 2019 were $15.6 ($9.1 – Cryo Tank Solutions, $4.5 – Heat Transfer Systems, $0.3 – Specialty Products, $1.5 – Repair, Service & Leasing and $0.2 – Corporate); and •December 31, 2018 were $4.3 ($1.7 – Cryo Tank Solutions, $0.7 – Heat Transfer Systems, $(0.3) – Specialty Products, $(0.1) – Repair, Service & Leasing and $2.3 – Corporate). (2)Includes transaction-related costs of $2.6 for the year ended December 31, 2020, which were mainly related to the Sustainable Energy Solutions, Inc., BlueInGreen, LLC and Alabama Trailers acquisitions. (3)Includes $16.0 impairment of our trademarks and trade names indefinite-lived intangible assets related to the AXC business in our Heat Transfer Systems segment. (4)Includes transaction-related costs of $5.4 for the years ended December 31, 2019, which were mainly related to the AXC acquisition. Includes transaction-related costs of $4.3 related to integration activities for previous acquisitions for the year ended December 31, 2019. (5)Includes transaction-related costs of $2.1 recorded in Corporate for the year ended December 31, 2018. (6)During the year ended December 31, 2018, we recorded net severance costs of $2.3 in Corporate primarily related to headcount reductions associated with a previous 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 2018. Includes net severance costs of $1.4 related to the departure of our former CEO, which includes $3.2 in payroll severance costs partially offset by a $1.8 credit due to related share-based compensation forfeitures for 2018. Sales by Geography Net sales by geographic area are reported by the destination of sales.
| Year Ended December 31, 2020
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America (1) | $ | 168.0 |  |  | $ | 259.4 |  |  | $ | 98.9 |  |  | $ | 111.2 |  |  | $ | (4.4) |  |  | $ | 633.1 |
Europe, Middle East, Africa and India | 165.3 |  |  | 39.3 |  |  | 121.8 |  |  | 38.1 |  |  | (3.5) |  |  | 361.0 |
Asia-Pacific (2) | 76.1 |  |  | 69.3 |  |  | 21.4 |  |  | 8.4 |  |  | (1.4) |  |  | 173.8 |
Rest of the World | 6.4 |  |  | 1.8 |  |  | 0.5 |  |  | 0.6 |  |  | (0.1) |  |  | 9.2 |
Total | $ | 415.8 |  |  | $ | 369.8 |  |  | $ | 242.6 |  |  | $ | 158.3 |  |  | $ | (9.4) |  |  | $ | 1,177.1 |
| Year Ended December 31, 2019
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America (1) | $ | 173.6 |  |  | $ | 311.2 |  |  | $ | 100.4 |  |  | $ | 128.4 |  |  | $ | (3.4) |  |  | $ | 710.2 |
Europe, Middle East, Africa and India | 163.8 |  |  | 71.6 |  |  | 91.2 |  |  | 23.7 |  |  | (2.2) |  |  | 348.1 |
Asia-Pacific (2) | 67.2 |  |  | 57.3 |  |  | 15.6 |  |  | 9.7 |  |  | (0.9) |  |  | 148.9 |
Rest of the World | 5.3 |  |  | 1.6 |  |  | 0.7 |  |  | 0.8 |  |  | (0.1) |  |  | 8.3 |
Total | $ | 409.9 |  |  | $ | 441.7 |  |  | $ | 207.9 |  |  | $ | 162.6 |  |  | $ | (6.6) |  |  | $ | 1,215.5 |
| Year Ended December 31, 2018
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America (1) | $ | 164.0 |  |  | $ | 237.1 |  |  | $ | 100.5 |  |  | $ | 122.6 |  |  | $ | (1.0) |  |  | $ | 623.2 |
Europe, Middle East, Africa and India | 120.0 |  |  | 24.1 |  |  | 65.2 |  |  | 30.0 |  |  | (0.9) |  |  | 238.4 |
Asia-Pacific (2) | 83.8 |  |  | 27.2 |  |  | 18.3 |  |  | 7.1 |  |  | (0.3) |  |  | 136.1 |
Rest of the World | 3.6 |  |  | 1.4 |  |  | 0.5 |  |  | 0.7 |  |  | — |  |  | 6.2 |
Total | $ | 371.4 |  |  | $ | 289.8 |  |  | $ | 184.5 |  |  | $ | 160.4 |  |  | $ | (2.2) |  |  | $ | 1,003.9 |
(1) Consolidated sales in the United States were $576.8, $638.0 and $570.6 for the twelve month periods ending December 31, 2020, 2019 and 2018, respectively and represent 49.0%, 52.5% and 56.8% of consolidated sales for the same periods, respectively. (2) Consolidated sales in China were $100.7, $80.5 and $101.6 for the twelve months ended December 31, 2020, 2019 and 2018, respectively and represent 8.6%, 6.6% and 10.1% of consolidated sales for the same periods, respectively. In both 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). Total Assets Corporate assets mainly include cash and cash equivalents and long-term deferred income taxes as well as certain corporate-specific property, plant and equipment, net and certain investments. Our allocation methodology for property, plant and equipment, net of the reportable segments differs from our allocation method of depreciation expense of a reportable segment and therefore, depreciation expense does not entirely align with the related depreciable assets of the reportable segments. Furthermore, since finite-lived intangible assets are excluded from total assets of reportable segments while amortization expense is allocated to each of our reportable segments, amortization expense by segment inherently does not align with the related amortizable intangible assets of the reportable segments.
| December 31,
| 2020 |  | 2019
Cryo Tank Solutions | $ | 399.2 |  |  | $ | 374.4 |
Heat Transfer Systems | 247.2 |  |  | 328.9 |
Specialty Products | 178.3 |  |  | 109.7 |
Repair, Service & Leasing | 142.6 |  |  | 106.6 |
Total assets of reportable segments | 967.3 |  |  | 919.6 |
Goodwill (1) | 865.9 |  |  | 811.4 |
Identifiable intangible assets, net (1) | 493.1 |  |  | 522.4 |
Corporate | 244.2 |  |  | 159.4 |
Discontinued operations | — |  |  | 68.6 |
Total assets | $ | 2,570.5 |  |  | $ | 2,481.4 |
_______________ (1)See Note 9, “Goodwill and Intangible Assets,” for further information related to goodwill and identifiable intangible assets, net. Geographic Information
| Property, plant and equipment, net as of December 31,
| 2020 |  | 2019
United States | $ | 223.9 |  |  | $ | 222.2 |
Foreign |  |  |
Italy | 69.9 |  |  | 56.4 |
China | 61.5 |  |  | 64.2 |
Czech Republic | 29.0 |  |  | 25.8 |
Germany | 16.1 |  |  | 15.5 |
India | 14.1 |  |  | 13.7 |
Total Foreign | 190.6 |  |  | 175.6 |
Total | $ | 414.5 |  |  | $ | 397.8 |

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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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