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Business Segment Information | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Business Segment Information | BUSINESS SEGMENT INFORMATION Our business segments share a focus on industrial flow control technology and have a high number of common customers. These segments also have complementary product offerings and technologies that are often combined in applications that provide us a net competitive advantage. Our segments also benefit from our global footprint and our economies of scale in reducing administrative and overhead costs to serve customers more cost effectively. We conduct our operations through two business segments based on type of product and how we manage the business: •FPD for custom, highly-engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services; and •FCD for engineered and industrial valves, control valves, actuators and controls and related services. Our corporate headquarters does not constitute a separate division or business segment. Amounts classified as "Eliminations and All Other" include corporate headquarters costs and other minor entities that do not constitute separate segments. Intersegment sales and transfers are recorded at cost plus a profit margin, with the sales and related margin on such sales eliminated in consolidation. The following is a summary of the financial information of our reportable segments as of and for the years ended December 31, 2021, 2020 and 2019 reconciled to the amounts reported in the consolidated financial statements.
|  |  |  | Subtotal—Reportable Segments |  | Eliminations and All Other |  | Consolidated Total
| FPD |  | FCD |  |  |
| (Amounts in thousands)
Year Ended December 31, 2021: |  |  |  |  |  |  |  |  |
Sales to external customers | $2,468,098 |  |  | $ | 1,072,962 |  |  | $ | 3,541,060 |  |  | $ | — |  |  | $ | 3,541,060 |
Intersegment sales | 2,750 |  |  | 2,924 |  |  | 5,674 |  |  | (5,674) |  |  | — |
Segment operating income (loss) | 243,203 |  |  | 119,651 |  |  | 362,854 |  |  | (92,095) |  |  | 270,759 |
Depreciation and amortization | 51,094 |  |  | 21,286 |  |  | 72,380 |  |  | 27,442 |  |  | 99,822 |
Identifiable assets | 2,927,346 |  |  | 1,223,316 |  |  | 4,150,662 |  |  | 599,106 |  |  | 4,749,768 |
Capital expenditures | 21,575 |  |  | 12,283 |  |  | 33,858 |  |  | 21,078 |  |  | 54,936 |
|  |  |  | Subtotal—Reportable Segments |  | Eliminations and All Other |  | Consolidated Total
| FPD |  | FCD |  |  |
| (Amounts in thousands)
Year Ended December 31, 2020: |  |  |  |  |  |  |  |  |
Sales to external customers | $2,673,705 |  |  | $ | 1,054,429 |  |  | $ | 3,728,134 |  |  | $ | — |  |  | $ | 3,728,134 |
Intersegment sales | 1,965 |  |  | 3,120 |  |  | 5,085 |  |  | (5,085) |  |  | — |
Segment operating income (loss) | 270,960 |  |  | 125,573 |  |  | 396,533 |  |  | (146,256) |  |  | 250,277 |
Depreciation and amortization | 52,390 |  |  | 21,949 |  |  | 74,339 |  |  | 26,414 |  |  | 100,753 |
Identifiable assets | 3,039,069 |  |  | 1,308,136 |  |  | 4,347,205 |  |  | 967,472 |  |  | 5,314,677 |
Capital expenditures | 21,714 |  |  | 14,043 |  |  | 35,757 |  |  | 21,648 |  |  | 57,405 |
|  |  |  | Subtotal—Reportable Segments |  | Eliminations and All Other |  | Consolidated Total
| FPD |  | FCD |  |  |
| (Amounts in thousands)
Year Ended December 31, 2019: |  |  |  |  |  |  |  |  |
Sales to external customers | $ | 2,704,445 |  |  | $ | 1,235,252 |  |  | $ | 3,939,697 |  |  | $ | — |  |  | $ | 3,939,697 |
Intersegment sales | 1,833 |  |  | 3,631 |  |  | 5,464 |  |  | (5,464) |  |  | — |
Segment operating income (loss) | 343,514 |  |  | 191,945 |  |  | 535,459 |  |  | (148,836) |  |  | 386,623 |
Depreciation and amortization | 50,845 |  |  | 23,577 |  |  | 74,422 |  |  | 31,482 |  |  | 105,904 |
Identifiable assets | 2,974,161 |  |  | 1,333,926 |  |  | 4,308,087 |  |  | 630,190 |  |  | 4,938,277 |
Capital expenditures | 26,450 |  |  | 14,449 |  |  | 40,899 |  |  | 34,817 |  |  | 75,716 |
Geographic Information — We attribute sales to different geographic areas based on our facilities’ locations. Long-lived assets are classified based on the geographic area in which the assets are located and exclude deferred taxes, goodwill and intangible assets. Sales and long-lived assets by geographic area are as follows:
| Year Ended December 31, 2021
| Sales |  | Percentage |  | Long-Lived Assets(a) |  | Percentage
| (Amounts in thousands, except percentages)
United States | $ | 1,376,771 |  |  | 38.9 | % |  | $ | 476,176 |  |  | 49.2 | %
EMA(1) | 1,270,326 |  |  | 35.9 | % |  | 298,426 |  |  | 30.8 | %
Asia(2) | 557,314 |  |  | 15.7 | % |  | 141,810 |  |  | 14.6 | %
Other(3) | 336,649 |  |  | 9.5 | % |  | 51,688 |  |  | 5.4 | %
Consolidated total | $ | 3,541,060 |  |  | 100.0 | % |  | $ | 968,100 |  |  | 100.0 | %
| Year Ended December 31, 2020
| Sales |  | Percentage |  | Long-Lived Assets |  | Percentage
| (Amounts in thousands, except percentages)
United States | $ | 1,463,680 |  |  | 39.3 | % |  | $ | 455,622 |  |  | 46.2 | %
EMA(1) | 1,385,245 |  |  | 37.2 | % |  | 336,577 |  |  | 34.1 | %
Asia(2) | 535,440 |  |  | 14.4 | % |  | 138,947 |  |  | 14.1 | %
Other(3) | 343,769 |  |  | 9.1 | % |  | 55,278 |  |  | 5.6 | %
Consolidated total | $ | 3,728,134 |  |  | 100.0 | % |  | $ | 986,424 |  |  | 100.0 | %
| Year Ended December 31, 2019
| Sales |  | Percentage |  | Long-Lived Assets |  | Percentage
| (Amounts in thousands, except percentages)
United States | $ | 1,632,582 |  |  | 41.4 | % |  | $ | 481,474 |  |  | 48.0 | %
EMA(1) | 1,397,308 |  |  | 35.5 | % |  | 312,668 |  |  | 31.2 | %
Asia(2) | 551,759 |  |  | 14.0 | % |  | 143,848 |  |  | 14.3 | %
Other(3) | 358,048 |  |  | 9.1 | % |  | 64,846 |  |  | 6.5 | %
Consolidated total | $ | 3,939,697 |  |  | 100.0 | % |  | $ | 1,002,836 |  |  | 100.0 | %
___________________________________ (1)"EMA" includes Europe, the Middle East and Africa. Germany accounted for approximately 6% for 2021, 7% for 2020 and 6% for 2019, of consolidated long-lived assets. No other individual country within this group represents 10% or more of consolidated totals for any period presented. (2)"Asia" includes Asia and Australia. No individual country within this group represents 10% or more of consolidated totals for any period presented. (3)"Other" includes Canada and Latin America. No individual country within this group represents 10% or more of consolidated totals for any period presented. Net sales to international customers, including export sales from the U.S., represented approximately 67% of total sales in 2021, 65% of total sales in 2020 and 63% of total sales in 2019. Major Customer Information — We have a large number of customers across a large number of manufacturing and service facilities and do not have sales to any individual customer that represent 10% or more of consolidated sales for any of the years presented.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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