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Reportable Segments | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Reportable Segments | Reportable Segments As reported in our Annual Report on Form 10-K for the year ended December 31, 2020, the structure of our internal organization is divided into 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, supplies bulk, microbulk and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases and other applications. Our Heat Transfer Systems segment, which has principal operations in the United States, Europe 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 and helium equipment, HLNG vehicle tanks, carbon capture, utilization, and storage (“CO2 Capture”), 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 condensed consolidated statements of income and comprehensive income. Segment Financial Information
| Three Months Ended September 30, 2021
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 112.2 |  |  | $ | 56.4 |  |  | $ | 116.9 |  |  | $ | 46.3 |  |  | $ | (3.5) |  |  | $ | — |  |  | $ | 328.3 |
Depreciation and amortization expense | 3.3 |  |  | 9.5 |  |  | 4.4 |  |  | 2.9 |  |  | — |  |  | 0.4 |  |  | 20.5 |
Operating income (loss) (1) (2) | 13.0 |  |  | (9.9) |  |  | 26.4 |  |  | 2.2 |  |  | — |  |  | (18.0) |  |  | 13.7 |
| Three Months Ended September 30, 2020
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 102.0 |  |  | $ | 80.7 |  |  | $ | 56.0 |  |  | $ | 36.5 |  |  | $ | (2.0) |  |  | $ | — |  |  | $ | 273.2 |
Depreciation and amortization expense | 4.9 |  |  | 10.1 |  |  | 1.3 |  |  | 2.4 |  |  | — |  |  | 0.5 |  |  | 19.2 |
Operating income (loss) (1) | 13.8 |  |  | 8.4 |  |  | 15.3 |  |  | 6.0 |  |  | — |  |  | (15.4) |  |  | 28.1 |
| Nine Months Ended September 30, 2021
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 313.9 |  |  | $ | 190.8 |  |  | $ | 301.0 |  |  | $ | 142.3 |  |  | $ | (9.2) |  |  | $ | — |  |  | $ | 938.8 |
Depreciation and amortization expense | 11.0 |  |  | 28.5 |  |  | 10.9 |  |  | 8.2 |  |  | — |  |  | 1.2 |  |  | 59.8 |
Operating income (loss) (1) (2) | 42.0 |  |  | (6.5) |  |  | 67.7 |  |  | 16.1 |  |  | — |  |  | (51.1) |  |  | 68.2 |
| Nine Months Ended September 30, 2020
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 305.3 |  |  | $ | 290.9 |  |  | $ | 157.5 |  |  | $ | 117.3 |  |  | $ | (6.3) |  |  | $ | — |  |  | $ | 864.7 |
Depreciation and amortization expense | 13.9 |  |  | 38.4 |  |  | 3.7 |  |  | 8.7 |  |  | — |  |  | 1.4 |  |  | 66.1 |
Operating income (loss) (1) | 41.3 |  |  | 21.1 |  |  | 40.8 |  |  | 18.2 |  |  | — |  |  | (51.7) |  |  | 69.7 |
_______________ (1)Restructuring costs for the: •three months ended September 30, 2021 were $1.9 ($0.5 - Heat Transfer Systems and $1.4 - Repair, Service & Leasing). •three months ended September 30, 2020 were $1.9 ($0.3 - Cryo Tank Solutions, $1.1 - Heat Transfer Systems, $0.1 - Repair, Service & Leasing, $0.4 - Corporate). •nine mo nths ended September 30, 2021 were $2.9 ($0.3 - Cryo Tank Solutions, $1.2 - Heat Transfer Systems and $1.4 - Repair, Service & Leasing). •nine months ended September 30, 2020 were $12.7 ($3.2 - Cryo Tank Solutions, $6.8 - Heat Transfer Systems, $0.1 - Repair, Service & Leasing, $2.6 - Corporate). (2)Includes acquisition-related contingent consideration adjustments of $0.3 and $2.3 in our Specialty Products segment for the three and nine months ended September 30, 2021, respectively. Sales by Geography
| Three Months Ended September 30, 2021
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America | $ | 49.8 |  |  | $ | 38.9 |  |  | $ | 59.1 |  |  | $ | 29.3 |  |  | $ | (1.7) |  |  | $ | 175.4 |
Europe, Middle East, Africa and India | 31.5 |  |  | 4.4 |  |  | 46.9 |  |  | 6.6 |  |  | (1.0) |  |  | 88.4 |
Asia-Pacific | 30.2 |  |  | 13.0 |  |  | 10.4 |  |  | 9.5 |  |  | (0.7) |  |  | 62.4 |
Rest of the World | 0.7 |  |  | 0.1 |  |  | 0.5 |  |  | 0.9 |  |  | (0.1) |  |  | 2.1 |
Total | $ | 112.2 |  |  | $ | 56.4 |  |  | $ | 116.9 |  |  | $ | 46.3 |  |  | $ | (3.5) |  |  | $ | 328.3 |
| Three Months Ended September 30, 2020
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America | $ | 38.6 |  |  | $ | 54.2 |  |  | $ | 21.4 |  |  | $ | 27.2 |  |  | $ | (0.8) |  |  | $ | 140.6 |
Europe, Middle East, Africa and India | 41.7 |  |  | 9.3 |  |  | 33.3 |  |  | 7.1 |  |  | (0.9) |  |  | 90.5 |
Asia-Pacific | 20.2 |  |  | 16.9 |  |  | 1.2 |  |  | 2.0 |  |  | (0.3) |  |  | 40.0 |
Rest of the World | 1.5 |  |  | 0.3 |  |  | 0.1 |  |  | 0.2 |  |  | — |  |  | 2.1 |
Total | $ | 102.0 |  |  | $ | 80.7 |  |  | $ | 56.0 |  |  | $ | 36.5 |  |  | $ | (2.0) |  |  | $ | 273.2 |
| Nine Months Ended September 30, 2021
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America | $ | 125.3 |  |  | $ | 127.4 |  |  | $ | 128.5 |  |  | $ | 87.8 |  |  | $ | (4.4) |  |  | $ | 464.6 |
Europe, Middle East, Africa and India | 101.9 |  |  | 21.0 |  |  | 145.8 |  |  | 26.2 |  |  | (2.7) |  |  | 292.2 |
Asia-Pacific | 83.5 |  |  | 41.8 |  |  | 25.6 |  |  | 27.2 |  |  | (2.0) |  |  | 176.1 |
Rest of the World | 3.2 |  |  | 0.6 |  |  | 1.1 |  |  | 1.1 |  |  | (0.1) |  |  | 5.9 |
Total | $ | 313.9 |  |  | $ | 190.8 |  |  | $ | 301.0 |  |  | $ | 142.3 |  |  | $ | (9.2) |  |  | $ | 938.8 |
| Nine Months Ended September 30, 2020
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America | $ | 122.9 |  |  | $ | 207.5 |  |  | $ | 72.4 |  |  | $ | 87.6 |  |  | $ | (2.9) |  |  | $ | 487.5 |
Europe, Middle East, Africa and India | 108.2 |  |  | 29.0 |  |  | 78.8 |  |  | 23.6 |  |  | (2.1) |  |  | 237.5 |
Asia-Pacific | 68.7 |  |  | 53.6 |  |  | 5.9 |  |  | 5.6 |  |  | (1.2) |  |  | 132.6 |
Rest of the World | 5.5 |  |  | 0.8 |  |  | 0.4 |  |  | 0.5 |  |  | (0.1) |  |  | 7.1 |
Total | $ | 305.3 |  |  | $ | 290.9 |  |  | $ | 157.5 |  |  | $ | 117.3 |  |  | $ | (6.3) |  |  | $ | 864.7 |
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.
| September 30, 2021 |  | December 31, 2020
Cryo Tank Solutions | $ | 382.0 |  |  | $ | 399.2 |
Heat Transfer Systems | 228.9 |  |  | 247.2 |
Specialty Products | 371.5 |  |  | 178.3 |
Repair, Service & Leasing | 183.9 |  |  | 142.6 |
Total assets of reportable segments | 1,166.3 |  |  | 967.3 |
Goodwill (1) | 952.7 |  |  | 865.9 |
Identifiable intangible assets, net (1) | 538.0 |  |  | 493.1 |
Corporate | 324.8 |  |  | 244.2 |
Total | $ | 2,981.8 |  |  | $ | 2,570.5 |
_______________ (1)See Note 8, “Goodwill and Intangible Assets,” for further information related to goodwill and identifiable intangible assets, net.

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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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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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