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v3.25.2

Reportable Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Reportable and Product Sales Information Segments | Segment Financial Information
| Three Months Ended June 30, 2025
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 155.9 |  |  | $ | 295.3 |  |  | $ | 292.9 |  |  | $ | 338.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,082.3 |
Cost of sales | 113.1 |  |  | 206.2 |  |  | 212.2 |  |  | 187.3 |  |  | — |  |  | — |  |  | 718.8 |
Selling, general and administrative expenses | 15.1 |  |  | 11.1 |  |  | 32.7 |  |  | 35.3 |  |  | — |  |  | 51.1 |  |  | 145.3 |
Amortization expense | 2.0 |  |  | 5.0 |  |  | 5.0 |  |  | 36.7 |  |  | — |  |  | — |  |  | 48.7 |
Operating income (loss) | 25.7 |  |  | 73.0 |  |  | 43.0 |  |  | 78.9 |  |  | — |  |  | (51.1) |  |  | 169.5 |
Depreciation expense (1) | 3.0 |  |  | 4.0 |  |  | 6.7 |  |  | 4.7 |  |  | — |  |  | 4.0 |  |  | 22.4 |
| Three Months Ended June 30, 2024
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 165.5 |  |  | $ | 236.7 |  |  | $ | 277.6 |  |  | $ | 360.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,040.3 |
Cost of sales | 132.1 |  |  | 175.9 |  |  | 196.8 |  |  | 183.9 |  |  | — |  |  | — |  |  | 688.7 |
Selling, general and administrative expenses | 15.5 |  |  | 10.7 |  |  | 20.7 |  |  | 42.8 |  |  | — |  |  | 46.5 |  |  | 136.2 |
Amortization expense | 1.9 |  |  | 5.0 |  |  | 5.1 |  |  | 35.8 |  |  | — |  |  | (0.2) |  |  | 47.6 |
Operating income (loss) | 16.0 |  |  | 45.1 |  |  | 55.0 |  |  | 98.0 |  |  | — |  |  | (46.3) |  |  | 167.8 |
Depreciation expense (1) | 3.6 |  |  | 4.1 |  |  | 1.7 |  |  | 7.1 |  |  | — |  |  | 1.9 |  |  | 18.4 |
| Six Months Ended June 30, 2025
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 309.1 |  |  | $ | 562.6 |  |  | $ | 569.0 |  |  | $ | 643.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,083.8 |
Cost of sales | 229.1 |  |  | 390.9 |  |  | 404.6 |  |  | 355.9 |  |  | — |  |  | — |  |  | 1,380.5 |
Selling, general and administrative expenses | 32.8 |  |  | 21.9 |  |  | 63.1 |  |  | 74.2 |  |  | — |  |  | 94.3 |  |  | 286.3 |
Amortization expense | 3.9 |  |  | 9.9 |  |  | 10.0 |  |  | 71.4 |  |  | — |  |  | — |  |  | 95.2 |
Operating income (loss) | 43.3 |  |  | 139.9 |  |  | 91.3 |  |  | 141.6 |  |  | — |  |  | (94.3) |  |  | 321.8 |
Depreciation expense (1) | 7.3 |  |  | 8.1 |  |  | 11.7 |  |  | 8.3 |  |  | — |  |  | 6.7 |  |  | 42.1 |
| Six Months Ended June 30, 2024
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Sales | $ | 325.2 |  |  | $ | 490.3 |  |  | $ | 514.1 |  |  | $ | 661.5 |  |  | $ | (0.1) |  |  | $ | — |  |  | $ | 1,991.0 |
Cost of sales | 259.0 |  |  | 359.4 |  |  | 374.4 |  |  | 344.4 |  |  | (0.1) |  |  | — |  |  | 1,337.1 |
Selling, general and administrative expenses | 32.4 |  |  | 24.6 |  |  | 49.4 |  |  | 82.3 |  |  | — |  |  | 89.0 |  |  | 277.7 |
Amortization expense | 3.8 |  |  | 10.0 |  |  | 10.2 |  |  | 71.7 |  |  | — |  |  | (0.2) |  |  | 95.5 |
Operating income (loss) | 30.0 |  |  | 96.3 |  |  | 80.1 |  |  | 163.1 |  |  | — |  |  | (88.8) |  |  | 280.7 |
Depreciation expense (1) | 7.0 |  |  | 8.3 |  |  | 3.7 |  |  | 14.2 |  |  | — |  |  | 3.2 |  |  | 36.4 |
_______________ (1)Depreciation disclosed by reportable segment is included within cost of sales and selling, general and administrative expenses. Sales by Geography Net sales by geographic area are reported by the destination of sales.
| Three Months Ended June 30, 2025
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America | $ | 56.3 |  |  | $ | 179.5 |  |  | $ | 132.7 |  |  | $ | 109.3 |  |  | $ | — |  |  | $ | 477.8 |
Europe, Middle East, Africa and India | 55.3 |  |  | 50.1 |  |  | 73.2 |  |  | 137.0 |  |  | — |  |  | 315.6 |
Asia-Pacific | 43.0 |  |  | 65.0 |  |  | 78.8 |  |  | 74.9 |  |  | — |  |  | 261.7 |
Rest of the World | 1.3 |  |  | 0.7 |  |  | 8.2 |  |  | 17.0 |  |  | — |  |  | 27.2 |
Total | $ | 155.9 |  |  | $ | 295.3 |  |  | $ | 292.9 |  |  | $ | 338.2 |  |  | $ | — |  |  | $ | 1,082.3 |
| Three Months Ended June 30, 2024
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America | $ | 68.3 |  |  | $ | 124.8 |  |  | $ | 109.1 |  |  | $ | 145.4 |  |  | $ | — |  |  | $ | 447.6 |
Europe, Middle East, Africa and India | 58.5 |  |  | 43.7 |  |  | 78.1 |  |  | 139.6 |  |  | — |  |  | 319.9 |
Asia-Pacific | 33.8 |  |  | 56.1 |  |  | 87.4 |  |  | 60.9 |  |  | — |  |  | 238.2 |
Rest of the World | 4.9 |  |  | 12.1 |  |  | 3.0 |  |  | 14.6 |  |  | — |  |  | 34.6 |
Total | $ | 165.5 |  |  | $ | 236.7 |  |  | $ | 277.6 |  |  | $ | 360.5 |  |  | $ | — |  |  | $ | 1,040.3 |
| Six Months Ended June 30, 2025
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America | $ | 114.9 |  |  | $ | 342.0 |  |  | $ | 255.1 |  |  | $ | 223.0 |  |  | $ | — |  |  | $ | 935.0 |
Europe, Middle East, Africa and India | 112.6 |  |  | 89.5 |  |  | 137.8 |  |  | 256.7 |  |  | — |  |  | 596.6 |
Asia-Pacific | 78.6 |  |  | 129.6 |  |  | 161.7 |  |  | 135.4 |  |  | — |  |  | 505.3 |
Rest of the World | 3.0 |  |  | 1.5 |  |  | 14.4 |  |  | 28.0 |  |  | — |  |  | 46.9 |
Total | $ | 309.1 |  |  | $ | 562.6 |  |  | $ | 569.0 |  |  | $ | 643.1 |  |  | $ | — |  |  | $ | 2,083.8 |
| Six Months Ended June 30, 2024
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Intersegment Eliminations |  | Consolidated
North America | $ | 154.3 |  |  | $ | 282.4 |  |  | $ | 201.9 |  |  | $ | 267.5 |  |  | $ | — |  |  | $ | 906.1 |
Europe, Middle East, Africa and India | 104.0 |  |  | 83.9 |  |  | 143.1 |  |  | 260.2 |  |  | — |  |  | 591.2 |
Asia-Pacific | 58.1 |  |  | 108.2 |  |  | 159.7 |  |  | 106.0 |  |  | (0.1) |  |  | 431.9 |
Rest of the World | 8.8 |  |  | 15.8 |  |  | 9.4 |  |  | 27.8 |  |  | — |  |  | 61.8 |
Total | $ | 325.2 |  |  | $ | 490.3 |  |  | $ | 514.1 |  |  | $ | 661.5 |  |  | $ | (0.1) |  |  | $ | 1,991.0 |
Schedule of Segment Assets |
| June 30, 2025 |  | December 31, 2024
Cryo Tank Solutions | $ | 575.4 |  |  | $ | 614.0 |
Heat Transfer Systems | 771.0 |  |  | 669.7 |
Specialty Products | 1,060.3 |  |  | 920.6 |
Repair, Service & Leasing | 1,024.4 |  |  | 889.9 |
Total assets of reportable segments | 3,431.1 |  |  | 3,094.2 |
Goodwill | 3,066.6 |  |  | 2,899.9 |
Identifiable intangible assets, net | 2,617.0 |  |  | 2,540.6 |
Corporate | 604.3 |  |  | 589.2 |
Total | $ | 9,719.0 |  |  | $ | 9,123.9 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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