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Revenue | 12 Months Ended
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Dec. 31, 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:
| Year Ended December 31, 2024
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
Point in time | $ | 348.6 |  |  | $ | 11.3 |  |  | $ | 166.3 |  |  | $ | 781.4 |  |  | $ | — |  |  | $ | 1,307.6 |
Over time | 289.3 |  |  | 1,024.0 |  |  | 948.0 |  |  | 591.3 |  |  | 0.1 |  |  | 2,852.7 |
Total | $ | 637.9 |  |  | $ | 1,035.3 |  |  | $ | 1,114.3 |  |  | $ | 1,372.7 |  |  | $ | 0.1 |  |  | $ | 4,160.3 |
| Year Ended December 31, 2023
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service and Leasing |  | Intersegment Eliminations |  | Consolidated
Point in time | $ | 444.7 |  |  | $ | 27.4 |  |  | $ | 148.4 |  |  | $ | 603.3 |  |  | $ | (18.0) |  |  | $ | 1,205.8 |
Over time | 196.1 |  |  | 863.8 |  |  | 671.5 |  |  | 425.9 |  |  | (10.6) |  |  | 2,146.7 |
Total | $ | 640.8 |  |  | $ | 891.2 |  |  | $ | 819.9 |  |  | $ | 1,029.2 |  |  | $ | (28.6) |  |  | $ | 3,352.5 |
| Year Ended December 31, 2022
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
Point in time | $ | 443.4 |  |  | $ | 27.3 |  |  | $ | 214.8 |  |  | $ | 104.4 |  |  | $ | (8.8) |  |  | $ | 781.1 |
Over time | 60.9 |  |  | 435.4 |  |  | 233.5 |  |  | 105.2 |  |  | (3.7) |  |  | 831.3 |
Total | $ | 504.3 |  |  | $ | 462.7 |  |  | $ | 448.3 |  |  | $ | 209.6 |  |  | $ | (12.5) |  |  | $ | 1,612.4 |
Refer to Note 4, “Segment and Geographic Information,” for a table of revenue by reportable segment disaggregated by geography. Contract Balances The following table represents changes in our contract assets and contract liabilities balances:
| December 31, |  |  |  |
| 2024 |  | 2023 |  |  |  |
Contract assets |  |  |  |  |  |  |
Unbilled contract revenue | 735.1 |  |  | 481.7 |  |  |  |  |
Contract liabilities |  |  |  |  |  |  |
Customer advances and billings in excess of contract revenue | $ | 362.2 |  |  | $ | 376.6 |  |  |  |  |
Revenue recognized for the years ended December 31, 2024 and 2023, that was included in the contract liabilities balance at the beginning of each year was $332.9 and $116.0, respectively. The amount of revenue recognized during the year ended December 31, 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. The increase in contract assets as of December 31, 2024 compared to December 31, 2023 was driven by an increase in revenue recognized on an over time basis. 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 December 31, 2024, the estimated revenue expected to be recognized in the future related to remaining performance obligations was $4,845.1, which is equivalent to our backlog. We expect to recognize revenue on approximately 59% of the remaining performance obligations over the next 12 months with the remaining balance recognized 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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