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Revenue
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following tables represent a disaggregation of revenue by timing of revenue along with the reportable segment for each category:
Three Months Ended June 30, 2024
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
Point in time$100.5 $11.3 $78.5 $213.4 $— $403.7 
Over time65.0 225.4 199.1 147.1 — 636.6 
Total$165.5 $236.7 $277.6 $360.5 $— $1,040.3 
Three Months Ended June 30, 2023
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
Point in time$96.5 $20.6 $58.0 $184.6 $(10.3)$349.4 
Over time56.2 215.4 178.7 114.1 (5.7)558.7 
Total$152.7 $236.0 $236.7 $298.7 $(16.0)$908.1 
Six Months Ended June 30, 2024
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
Point in time$201.6 $21.4 $147.5 $403.8 $— $774.3 
Over time123.6 468.9 366.6 257.7 (0.1)1,216.7 
Total$325.2 $490.3 $514.1 $661.5 $(0.1)$1,991.0 
Six Months Ended June 30, 2023
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
Point in time$186.8 $32.0 $61.5 $256.1 $(12.7)$523.7 
Over time89.4 371.5 301.4 161.1 (7.5)915.9 
Total$276.2 $403.5 $362.9 $417.2 $(20.2)$1,439.6 
Refer to Note 3, “Reportable Segments,” for a table of revenue by reportable segment disaggregated by geography.
Contract Balances
The following table presents our contract assets and contract liabilities balances:
June 30, 2024December 31, 2023
Contract assets
Accounts receivable, net of allowances$748.5 $758.9 
Unbilled contract revenue661.4 481.7 
Contract liabilities
Customer advances and billings in excess of contract revenue$378.1 $376.6 
Revenue recognized for the three months ended June 30, 2024 and 2023, that was included in the contract liabilities balance at the beginning of the year was $82.4 and $77.4, respectively. Revenue recognized for the six months ended June 30, 2024 and 2023, that was included in the contract liabilities balance at the beginning of each year was $219.9 and $145.4, respectively. The amount of revenue recognized during the six months ended June 30, 2024 from performance obligations satisfied or partially satisfied in previous periods as a result of changes in the estimates of variable consideration related to long-term contracts, was not significant.
Remaining Performance Obligations
Remaining performance obligations represent the transaction price of firm signed purchase orders or other written contractual commitments from customers for which work has not been performed, or is partially completed, and excludes unexercised contract options and potential orders. As of June 30, 2024, the estimated revenue expected to be recognized in the future related to remaining performance obligations was $4,426.0. We expect to recognize revenue on approximately 62% of the remaining performance obligations over the next 12 months and the remaining over the next few years thereafter.