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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Segments and Geographic Information | Segment and Geographic Information Our reportable segments, which are also our operating segments, are as follows: 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 serves most geographic regions around the globe, supplying bulk, microbulk and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases and certain hydrocarbons. Our Heat Transfer Systems segment, with principal operations in the United States and Europe, also serves most geographic regions globally, supplying mission critical engineered equipment and systems used in the separation, liquefaction, and purification of hydrocarbon and industrial gases that span gas-to-liquid applications. Operating globally, our Specialty Products segment supplies products used in specialty end-market applications including hydrogen, LNG, biofuels, CO2 Capture, food and beverage, aerospace, lasers, cannabis and water treatment, among others. Our Repair, Service & Leasing segment provides installation, service, repair, maintenance, and refurbishment of cryogenic products globally in addition to providing 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. 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, 2021
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 447.4 |  |  | $ | 262.7 |  |  | $ | 432.9 |  |  | $ | 187.0 |  |  | $ | (12.3) |  |  | $ | — |  |  | $ | 1,317.7 |
Depreciation and amortization expense | 14.9 |  |  | 37.6 |  |  | 15.1 |  |  | 11.3 |  |  | — |  |  | 1.7 |  |  | 80.6
Operating income (loss) (1) (2) | 52.9 |  |  | (12.3) |  |  | 94.1 |  |  | 23.3 |  |  | — |  |  | (69.5) |  |  | 88.5
| 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 |
_______________ (1) Restructuring costs for the years ended: •December 31, 2021 were $3.5 ($0.3 – Cryo Tank Solutions $1.7 – Heat Transfer Systems and $1.5 – Repair, Service & Leasing); •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); and •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). (2)Includes transaction-related costs of $2.5 and $2.6 for the years ended December 31, 2021 and 2020, respectively. These costs were mainly related to our 2021 acquisitions of Earthly Labs Inc. (“Earthly Labs”), AdEdge Holdings, LLC, L.A. Turbine and Cryogenic Gas Technologies, Inc. and our 2020 acquisitions of Sustainable Energy Solutions, Inc., BlueInGreen, LLC and Alabama Trailers. Includes transaction-related costs of $2.8 related to integration activities for previous acquisitions for the year ended December 31, 2021. (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 for the year ended December 31, 2020. (4)Includes transaction-related costs of $5.4 for the year 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. Sales by Geography Net sales by geographic area are reported by the destination of sales.
| Year Ended December 31, 2021
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America (1) | $ | 178.3 |  |  | $ | 181.1 |  |  | $ | 193.2 |  |  | $ | 118.6 |  |  | $ | (5.4) |  |  | $ | 665.8 |
Europe, Middle East, Africa and India | 155.2 |  |  | 28.6 |  |  | 204.1 |  |  | 36.4 |  |  | (4.5) |  |  | 419.8 |
Asia-Pacific (2) | 109.9 |  |  | 51.6 |  |  | 33.9 |  |  | 30.6 |  |  | (2.3) |  |  | 223.7 |
Rest of the World | 4.0 |  |  | 1.4 |  |  | 1.7 |  |  | 1.4 |  |  | (0.1) |  |  | 8.4 |
Total | $ | 447.4 |  |  | $ | 262.7 |  |  | $ | 432.9 |  |  | $ | 187.0 |  |  | $ | (12.3) |  |  | $ | 1,317.7 |
| 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 |
_______________ (1) Consolidated sales in the United States were $585.9, $576.8 and $638.0 for the twelve month periods ending December 31, 2021, 2020 and 2019, respectively and represent 44.5%, 49.0% and 52.5% of consolidated sales for the same periods, respectively. (2) Consolidated sales in China were $136.2, $100.7 and $80.5 for the twelve months ended December 31, 2021, 2020 and 2019, respectively and represent 10.3%, 8.6% and 6.6% of consolidated sales for the same periods, respectively. No single customer accounted for more than 10% of consolidated sales for any of the periods presented in the tables above. 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,
| 2021 |  | 2020
Cryo Tank Solutions | $ | 407.2 |  |  | $ | 399.2 |
Heat Transfer Systems | 225.8 |  |  | 247.2 |
Specialty Products | 327.5 |  |  | 178.3 |
Repair, Service & Leasing | 186.2 |  |  | 142.6 |
Total assets of reportable segments | 1,146.7 |  |  | 967.3 |
Goodwill (1) | 994.6 |  |  | 865.9 |
Identifiable intangible assets, net (1) | 556.1 |  |  | 493.1 |
Corporate | 346.4 |  |  | 244.2 |
Total assets | $ | 3,043.8 |  |  | $ | 2,570.5 |
_______________ (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,
| 2021 |  | 2020
United States | $ | 234.0 |  |  | $ | 223.9 |
Foreign |  |  |
Italy | 60.7 |  |  | 69.9 |
China | 58.8 |  |  | 61.5 |
Czech Republic | 29.9 |  |  | 29.0 |
Germany | 16.5 |  |  | 16.1 |
India | 16.1 |  |  | 14.1 |
Total Foreign | 182.0 |  |  | 190.6 |
Total | $ | 416.0 |  |  | $ | 414.5 |

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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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