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Revenue
 12 Months Ended
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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
Point in time$348.6 $11.3 $166.3 $781.4 $— $1,307.6 
Over time289.3 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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service and LeasingIntersegment EliminationsConsolidated
Point in time$444.7 $27.4 $148.4 $603.3 $(18.0)$1,205.8 
Over time196.1 863.8 671.5 425.9 (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 SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
Point in time$443.4 $27.3 $214.8 $104.4 $(8.8)$781.1 
Over time60.9 435.4 233.5 105.2 (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,
20242023
Contract assets
Unbilled contract revenue735.1 481.7 
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.