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Reportable Segments
 9 Months Ended
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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$112.2 $56.4 $116.9 $46.3 $(3.5)$— $328.3 
Depreciation and amortization expense3.3 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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$102.0 $80.7 $56.0 $36.5 $(2.0)$— $273.2 
Depreciation and amortization expense4.9 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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$313.9 $190.8 $301.0 $142.3 $(9.2)$— $938.8 
Depreciation and amortization expense11.0 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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$305.3 $290.9 $157.5 $117.3 $(6.3)$— $864.7 
Depreciation and amortization expense13.9 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 months 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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$49.8 $38.9 $59.1 $29.3 $(1.7)$175.4 
Europe, Middle East, Africa and India31.5 4.4 46.9 6.6 (1.0)88.4 
Asia-Pacific30.2 13.0 10.4 9.5 (0.7)62.4 
Rest of the World0.7 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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$38.6 $54.2 $21.4 $27.2 $(0.8)$140.6 
Europe, Middle East, Africa and India41.7 9.3 33.3 7.1 (0.9)90.5 
Asia-Pacific20.2 16.9 1.2 2.0 (0.3)40.0 
Rest of the World1.5 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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$125.3 $127.4 $128.5 $87.8 $(4.4)$464.6 
Europe, Middle East, Africa and India101.9 21.0 145.8 26.2 (2.7)292.2 
Asia-Pacific83.5 41.8 25.6 27.2 (2.0)176.1 
Rest of the World3.2 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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$122.9 $207.5 $72.4 $87.6 $(2.9)$487.5 
Europe, Middle East, Africa and India108.2 29.0 78.8 23.6 (2.1)237.5 
Asia-Pacific68.7 53.6 5.9 5.6 (1.2)132.6 
Rest of the World5.5 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 Systems228.9 247.2 
Specialty Products371.5 178.3 
Repair, Service & Leasing183.9 142.6 
Total assets of reportable segments1,166.3 967.3 
Goodwill (1)
952.7 865.9 
Identifiable intangible assets, net (1)
538.0 493.1 
Corporate324.8 244.2 
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.