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Revenue | 9 Months Ended
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Sep. 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 September 30, 2024
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
Point in time | $ | 83.6 |  |  | $ | 5.5 |  |  | $ | 54.9 |  |  | $ | 209.7 |  |  | $ | — |  |  | $ | 353.7 |
Over time | 78.9 |  |  | 250.7 |  |  | 228.4 |  |  | 150.8 |  |  | — |  |  | 708.8 |
Total | $ | 162.5 |  |  | $ | 256.2 |  |  | $ | 283.3 |  |  | $ | 360.5 |  |  | $ | — |  |  | $ | 1,062.5 |
| Three Months Ended September 30, 2023
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
Point in time | $ | 108.3 |  |  | $ | 16.5 |  |  | $ | 62.1 |  |  | $ | 152.6 |  |  | $ | (2.5) |  |  | $ | 337.0 |
Over time | 50.7 |  |  | 216.0 |  |  | 177.9 |  |  | 118.7 |  |  | (2.4) |  |  | 560.9 |
Total | $ | 159.0 |  |  | $ | 232.5 |  |  | $ | 240.0 |  |  | $ | 271.3 |  |  | $ | (4.9) |  |  | $ | 897.9 |
| Nine Months Ended September 30, 2024
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
Point in time | $ | 285.2 |  |  | $ | 26.9 |  |  | $ | 202.4 |  |  | $ | 613.5 |  |  | $ | — |  |  | $ | 1,128.0 |
Over time | 202.5 |  |  | 719.6 |  |  | 595.0 |  |  | 408.5 |  |  | (0.1) |  |  | 1,925.5 |
Total | $ | 487.7 |  |  | $ | 746.5 |  |  | $ | 797.4 |  |  | $ | 1,022.0 |  |  | $ | (0.1) |  |  | $ | 3,053.5 |
| Nine Months Ended September 30, 2023
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
Point in time | $ | 295.1 |  |  | $ | 48.5 |  |  | $ | 123.6 |  |  | $ | 408.7 |  |  | $ | (15.2) |  |  | $ | 860.7 |
Over time | 140.1 |  |  | 587.5 |  |  | 479.3 |  |  | 279.8 |  |  | (9.9) |  |  | 1,476.8 |
Total | $ | 435.2 |  |  | $ | 636.0 |  |  | $ | 602.9 |  |  | $ | 688.5 |  |  | $ | (25.1) |  |  | $ | 2,337.5 |
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:
| September 30, 2024 |  | December 31, 2023
Contract assets |  |  |
Accounts receivable, net of allowances | $ | 805.6 |  |  | $ | 758.9 |
Unbilled contract revenue | 680.2 |  |  | 481.7 |
Contract liabilities |  |  |
Customer advances and billings in excess of contract revenue | $ | 366.0 |  |  | $ | 376.6 |
Revenue recognized for the three months ended September 30, 2024 and 2023, that was included in the contract liabilities balance at the beginning of the year was $65.0 and $17.3, respectively. Revenue recognized for the nine months ended September 30, 2024 and 2023, that was included in the contract liabilities balance at the beginning of each year was $284.9 and $162.7, respectively. The amount of revenue recognized during the nine months ended September 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 September 30, 2024, the estimated revenue expected to be recognized in the future related to remaining performance obligations was $4,535.3. We expect to recognize revenue on approximately 61% of the remaining performance obligations over the next 12 months and the remaining over the next few years thereafter.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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