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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE (PVP)
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation
S-K,
we are providing the following information about the relationship between compensation actually paid to our Named Executive Officers (NEOs) and certain financial performance metrics of the Company using a methodology that has been prescribed by the SEC.
 
                        
Value of Initial Fixed $100
Investment Based on:
    
Fiscal
Year
 
Summary
Compensation
Table Total
for PEO
(1)
 
Compensation
Actually Paid
to PEO
(1)(2)
 
Average
Summary
Compensation
Table Total
for
non-PEO

NEOs
(1)
 
Average
Compensation
Actually Paid
to
non-PEO

NEOs
(1) (2)
 
Total
Shareholder
Return
 
Peer Group
Total
Shareholder
Return
(3)T
 
Net Income
($ millions)
 
Adjusted
Operating
Income
($ millions)
(4)
(a)
 
(b)
 
(c)
 
(d)
 
(e)
 
(f)
 
(g)
 
(h)
 
(i)
   
2023
  $5,424,092   $7,784,940   $973,594   $1,272,020   $202.00   $145.77   $47.3   $599.9
   
2022
  $5,134,642   ($592,211)   $1,286,316   $642,330   $170.74   $143.03   $24.0   $189.0
   
2021
  $5,665,022   $13,324,194   $871,151   $1,334,099   $236.32   $137.50   $59.1   $128.6
   
2020
  $5,597,167   $14,231,265   $1,393,619   $1,590,991   $174.54   $119.63   $308.1   $149.8
 
(1)
Ms. Evanko served as principal executive officer (PEO) for the full year of each 2023, 2022, 2021 and 2020. Our
non-PEO
named executive officers (NEOs) included: (a) for 2023, Mr. Brinkman, Mr. Hotchkiss, Mr. Vinci, and Mr. Belling; (b) for 2022, Mr. Brinkman, Mr. Hotchkiss, Mr. Vinci, Mr. Ducote and Mr. Belling; (c) for 2021, Mr. Brinkman, Mr. Hotchkiss, Mr. Vinci, Mr. Ducote, Mr. Belling and Scott Merkle (our former CFO); and (d) for 2020, Mr. Hotchkiss, Mr. Vinci and John Bishop (our former COO). Summary Compensation Table figures for the 2022, 2021 and 2020 have been updated to reflect the fair values for stock option awards granted in each respective year.
 
(2)
The following amounts were deducted from/added to Summary Compensation Table total compensation in accordance with the
SEC-mandated
adjustments to calculate Compensation Actually Paid (“CAP”) to our principal executive officer (PEO) and average CAP to our
non-PEO
named executive officers. The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.
PEO SCT Total to CAP Reconciliation
 
         
Fiscal Year
  
2020
   
2021
   
2022
    
2023
 
   
SCT Total
     $5,597,167       $5,665,022       $5,134,642        $5,424,092  
   
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year
     ($3,382,730)       ($4,659,031)       ($3,512,927)        ($3,626,892)  
   
+ Fair Value at Fiscal
Year-End
of Outstanding Unvested Stock Awards Granted in Fiscal Year
     $6,412,723       $6,796,986       $2,500,606        $4,519,203  
   
± Change in Fair Value of Outstanding Unvested Stock Awards Granted in Prior Fiscal Years
     $5,611,101       $3,321,555       ($4,181,594)        $1,114,549  
   
+ Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
     $0       $0       $0        $0  
   
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
     ($6,996)       $2,199,662       ($532,938)        $353,988  
   
- Fair Value as of Prior Fiscal
Year-End
of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
     $0       $0       $0        $0  
   
+ Dividends Accrued During Fiscal Year
     $0       $0       $0        $0  
   
Compensation Actually Paid
  
 
$14,231,265
 
 
 
$13,324,194
 
 
($
592,211
  
 
$7,784,940
 
 
Non-PEO
NEO Average SCT Total to Average CAP Reconciliation
 
         
Fiscal Year
  
2020
   
2021
   
2022
    
2023
 
   
Average SCT Total
     $1,393,619       $871,151       $1,286,316        $973,594  
   
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year
     ($503,838)       ($413,163)       ($806,953)        ($334,948)  
   
+ Fair Value at Fiscal
Year-End
of Outstanding Unvested Stock Awards Granted in Fiscal Year
     $549,687       $569,911       $569,628        $417,272  
   
± Change in Fair Value of Outstanding Unvested Stock Awards Granted in Prior Fiscal Years
     $361,663       $283,527       ($351,834)        $179,180  
   
+ Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
     $0       $467       $62        $0  
   
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
     $4,861       $22,206       ($54,888)        $36,921  
   
- Fair Value as of Prior Fiscal
Year-End
of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
     ($215,001)       $0       $0        $0  
   
+ Dividends Accrued During Fiscal Year
     $0       $0       $0        $0  
   
Average Compensation Actually Paid
  
 
$1,590,991
 
 
 
$1,334,099
 
 
 
$642,330
 
  
 
$1,272,020
 
 
(3)
We select the peer companies that comprise the Peer Group Index solely on the basis of objective criteria. These criteria result in an index composed of oil field equipment/service and other comparable industrial companies. During 2023, we modified our peer group to include certain competitors of Howden. The cumulative total return comparison presents both the current and previous Peer Group Index. The current Peer Group Index is comprised of Air Products and Chemicals, Inc., Atlas Copco AB, Baker Hughes Company, Barnes Group Inc., Burckhardt Compression Holding AG, ChampionX Corporation, Cheniere Energy, Inc., CIMC Enric Holdings Limited, CNH Industrial N.V., EnPro Inc., ESCO Technologies Inc., Franklin Electric Co., Inc., IDEX Corporation, ITT Inc., New Fortress Energy LLC, NIKKISO CO., LTD., Plug Power Inc., SPX Corporation and Worthington Enterprises, Inc. The previous Peer Group Index is comprised of Air Products and Chemicals, Inc., Baker Hughes Company, Barnes Group Inc., ChampionX Corporation, Cheniere Energy, Inc., CIMC Enric Holdings Limited, CNH Industrial N.V., EnPro Inc., ESCO Technologies Inc., Franklin Electric Co., Inc., Harsco Corporation, IDEX Corporation, ITT Inc., New Fortress Energy LLC, NIKKISO CO., LTD., Plug Power Inc., SPX Corporation and Worthington Enterprises, Inc. A comparison of TSR for the current and previous Peer Groups are shown below:
 
Peer TSR Comparison
  
2020
  
2021
  
2022
  
2023
Peer Group Index - Current
   119.63    137.50    143.03    145.77
Peer Group Index - Previous
   119.91    138.40    144.97    147.01
 
(4)
Adjusted Operating Income is a
Non-GAAP
measure and is calculated for the periods presented by adding restructuring, transaction-related and other
one-time
costs to Operating Income, as reported.
     
Company Selected Measure Name Adjusted Operating Income      
Named Executive Officers, Footnote Our
non-PEO
named executive officers (NEOs) included: (a) for 2023, Mr. Brinkman, Mr. Hotchkiss, Mr. Vinci, and Mr. Belling; (b) for 2022, Mr. Brinkman, Mr. Hotchkiss, Mr. Vinci, Mr. Ducote and Mr. Belling; (c) for 2021, Mr. Brinkman, Mr. Hotchkiss, Mr. Vinci, Mr. Ducote, Mr. Belling and Scott Merkle (our former CFO); and (d) for 2020, Mr. Hotchkiss, Mr. Vinci and John Bishop (our former COO).
     
Peer Group Issuers, Footnote
(3)
We select the peer companies that comprise the Peer Group Index solely on the basis of objective criteria. These criteria result in an index composed of oil field equipment/service and other comparable industrial companies. During 2023, we modified our peer group to include certain competitors of Howden. The cumulative total return comparison presents both the current and previous Peer Group Index. The current Peer Group Index is comprised of Air Products and Chemicals, Inc., Atlas Copco AB, Baker Hughes Company, Barnes Group Inc., Burckhardt Compression Holding AG, ChampionX Corporation, Cheniere Energy, Inc., CIMC Enric Holdings Limited, CNH Industrial N.V., EnPro Inc., ESCO Technologies Inc., Franklin Electric Co., Inc., IDEX Corporation, ITT Inc., New Fortress Energy LLC, NIKKISO CO., LTD., Plug Power Inc., SPX Corporation and Worthington Enterprises, Inc. The previous Peer Group Index is comprised of Air Products and Chemicals, Inc., Baker Hughes Company, Barnes Group Inc., ChampionX Corporation, Cheniere Energy, Inc., CIMC Enric Holdings Limited, CNH Industrial N.V., EnPro Inc., ESCO Technologies Inc., Franklin Electric Co., Inc., Harsco Corporation, IDEX Corporation, ITT Inc., New Fortress Energy LLC, NIKKISO CO., LTD., Plug Power Inc., SPX Corporation and Worthington Enterprises, Inc. A comparison of TSR for the current and previous Peer Groups are shown below:
 
Peer TSR Comparison
  
2020
  
2021
  
2022
  
2023
Peer Group Index - Current
   119.63    137.50    143.03    145.77
Peer Group Index - Previous
   119.91    138.40    144.97    147.01
     
PEO Total Compensation Amount $ 5,424,092 $ 5,134,642 $ 5,665,022 $ 5,597,167
PEO Actually Paid Compensation Amount $ 7,784,940 (592,211) 13,324,194 14,231,265
Adjustment To PEO Compensation, Footnote
PEO SCT Total to CAP Reconciliation
 
         
Fiscal Year
  
2020
   
2021
   
2022
    
2023
 
   
SCT Total
     $5,597,167       $5,665,022       $5,134,642        $5,424,092  
   
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year
     ($3,382,730)       ($4,659,031)       ($3,512,927)        ($3,626,892)  
   
+ Fair Value at Fiscal
Year-End
of Outstanding Unvested Stock Awards Granted in Fiscal Year
     $6,412,723       $6,796,986       $2,500,606        $4,519,203  
   
± Change in Fair Value of Outstanding Unvested Stock Awards Granted in Prior Fiscal Years
     $5,611,101       $3,321,555       ($4,181,594)        $1,114,549  
   
+ Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
     $0       $0       $0        $0  
   
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
     ($6,996)       $2,199,662       ($532,938)        $353,988  
   
- Fair Value as of Prior Fiscal
Year-End
of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
     $0       $0       $0        $0  
   
+ Dividends Accrued During Fiscal Year
     $0       $0       $0        $0  
   
Compensation Actually Paid
  
 
$14,231,265
 
 
 
$13,324,194
 
 
($
592,211
  
 
$7,784,940
 
 
     
Non-PEO NEO Average Total Compensation Amount $ 973,594 1,286,316 871,151 1,393,619
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,272,020 642,330 1,334,099 1,590,991
Adjustment to Non-PEO NEO Compensation Footnote
Non-PEO
NEO Average SCT Total to Average CAP Reconciliation
 
         
Fiscal Year
  
2020
   
2021
   
2022
    
2023
 
   
Average SCT Total
     $1,393,619       $871,151       $1,286,316        $973,594  
   
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year
     ($503,838)       ($413,163)       ($806,953)        ($334,948)  
   
+ Fair Value at Fiscal
Year-End
of Outstanding Unvested Stock Awards Granted in Fiscal Year
     $549,687       $569,911       $569,628        $417,272  
   
± Change in Fair Value of Outstanding Unvested Stock Awards Granted in Prior Fiscal Years
     $361,663       $283,527       ($351,834)        $179,180  
   
+ Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
     $0       $467       $62        $0  
   
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
     $4,861       $22,206       ($54,888)        $36,921  
   
- Fair Value as of Prior Fiscal
Year-End
of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
     ($215,001)       $0       $0        $0  
   
+ Dividends Accrued During Fiscal Year
     $0       $0       $0        $0  
   
Average Compensation Actually Paid
  
 
$1,590,991
 
 
 
$1,334,099
 
 
 
$642,330
 
  
 
$1,272,020
 
 
     
Compensation Actually Paid vs. Total Shareholder Return
LOGO
     
Compensation Actually Paid vs. Net Income
LOGO
     
Compensation Actually Paid vs. Company Selected Measure
LOGO
     
Total Shareholder Return Vs Peer Group
LOGO
     
Tabular List, Table
The four items listed below represent the most important performance metrics we used to determine CAP for 2023 as further described in our Compensation Discussion and Analysis (CD&A) within the sections titled “Elements of Compensation.”
 
 
Most Important Performance Measures
 
                    
 
         
  Adjusted Operating Income
  Free Cash Flow
  ROIC
  Relative TSR
 
   
 
     
Total Shareholder Return Amount $ 202 170.74 236.32 174.54
Peer Group Total Shareholder Return Amount 145.77 143.03 137.5 119.63
Net Income (Loss) $ 47,300,000 $ 24,000,000 $ 59,100,000 $ 308,100,000
Company Selected Measure Amount 599,900,000 189,000,000 128,600,000 149,800,000
PEO Name Ms. Evanko      
Peer Group Index Previous $ 147.01 $ 144.97 $ 138.4 $ 119.91
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted Operating Income      
Non-GAAP Measure Description
(4)
Adjusted Operating Income is a
Non-GAAP
measure and is calculated for the periods presented by adding restructuring, transaction-related and other
one-time
costs to Operating Income, as reported.
     
Measure:: 2        
Pay vs Performance Disclosure        
Name Free Cash Flow      
Measure:: 3        
Pay vs Performance Disclosure        
Name ROIC      
Measure:: 4        
Pay vs Performance Disclosure        
Name Relative TSR      
PEO | Grant Date Fair Value Of Stock Awards Granted In Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (3,626,892) (3,512,927) (4,659,031) (3,382,730)
PEO | Fair Value At Fiscal Year End Of Outstanding Unvested Stock Awards Granted In Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 4,519,203 2,500,606 6,796,986 6,412,723
PEO | Change In Fair Value Of Outstanding Unvested Stock Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,114,549 (4,181,594) 3,321,555 5,611,101
PEO | Fair Value At Vesting Of Stock Awards Granted In Fiscal Year That Vested During Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Change In Fair Value As Of Vesting Date Of Stock Awards Granted In Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 353,988 (532,938) 2,199,662 (6,996)
PEO | Fair Value As Of Prior Fiscal YearEnd Of Stock Awards Granted In Prior Fiscal Years That Failed To Meet Applicable Vesting Conditions During Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Dividends Accrued During Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
Non-PEO NEO | Grant Date Fair Value Of Stock Awards Granted In Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (334,948) (806,953) (413,163) (503,838)
Non-PEO NEO | Fair Value At Fiscal Year End Of Outstanding Unvested Stock Awards Granted In Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 417,272 569,628 569,911 549,687
Non-PEO NEO | Change In Fair Value Of Outstanding Unvested Stock Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 179,180 (351,834) 283,527 361,663
Non-PEO NEO | Fair Value At Vesting Of Stock Awards Granted In Fiscal Year That Vested During Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 62 467 0
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Stock Awards Granted In Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 36,921 (54,888) 22,206 4,861
Non-PEO NEO | Fair Value As Of Prior Fiscal YearEnd Of Stock Awards Granted In Prior Fiscal Years That Failed To Meet Applicable Vesting Conditions During Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 (215,001)
Non-PEO NEO | Dividends Accrued During Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0