XML 82 R69.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Results (Details)
$ in Millions
3 Months Ended
Mar. 31, 2018
USD ($)
Segment
Mar. 31, 2017
USD ($)
Segment Results [Abstract]    
Number of reportable segments | Segment 3  
Segment Reporting Information [Line Items]    
Revenue $ 619.6 $ 481.7
Less items to reconcile Segment Adjusted EBITDA to Income (Loss) Before Income Taxes [Abstract]    
Interest expense 26.0 45.9
Restructuring and related business transformation costs 4.5 8.6
Acquisition related expenses and non-cash charges [1] 3.0 0.8
Stock-based compensation 3.4 0.0
Foreign currency transaction losses, net (2.6) (0.6)
Shareholder litigation settlement recoveries [2] (4.5) 0.0
Income (Loss) Before Income Taxes 65.8 (8.6)
Insurance recoveries of legal defense costs 5.6  
Restructuring and Related Business Transformation Costs [Abstract]    
Restructuring charges [3] 0.0 1.7
Severance, sign-on, relocation and executive search costs 2.0 1.0
Facility reorganization, relocation and other costs 0.6 1.1
Information technology infrastructure transformation 0.0 0.7
(Gains) losses on asset and business disposals (1.2) 3.0
Consultant and other advisor fees 2.6 0.4
Other, net 0.5 0.7
Total restructuring and related business transformation costs 4.5 8.6
Stock-based compensation expense recognized 3.4  
Decrease in stock-based compensation expense to DSU's 0.7  
Industrials [Member]    
Segment Reporting Information [Line Items]    
Revenue 316.9  
Energy [Member]    
Segment Reporting Information [Line Items]    
Revenue 242.2  
Medical [Member]    
Segment Reporting Information [Line Items]    
Revenue 60.5  
Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Adjusted EBITDA 150.7 100.3
Operating Segments [Member] | Industrials [Member]    
Segment Reporting Information [Line Items]    
Revenue 316.9 248.0
Adjusted EBITDA 66.8 47.2
Operating Segments [Member] | Energy [Member]    
Segment Reporting Information [Line Items]    
Revenue 242.2 178.3
Adjusted EBITDA 68.0 38.5
Operating Segments [Member] | Medical [Member]    
Segment Reporting Information [Line Items]    
Revenue 60.5 55.4
Adjusted EBITDA 15.9 14.6
Corporate [Member]    
Less items to reconcile Segment Adjusted EBITDA to Income (Loss) Before Income Taxes [Abstract]    
Corporate expenses not allocated to segments [5] 2.5 [4] 8.2
Segment Reconciling Items [Member]    
Less items to reconcile Segment Adjusted EBITDA to Income (Loss) Before Income Taxes [Abstract]    
Interest expense [5] 26.0 45.9
Depreciation and amortization expenses [5] 45.0 39.7
Sponsor fees and expenses [5],[6] 0.0 1.1
Restructuring and related business transformation costs [5],[7] 4.5 8.6
Acquisition related expenses and non-cash charges [5],[8] 4.6 0.7
Environmental remediation loss reserve [5],[9] 0.0 1.0
Expenses related to public stock offerings [5],[10] 1.4 1.3
Establishment of public company financial reporting compliance [5] 0.8 [11] 1.3
Stock-based compensation [5] 2.7 [12] 0.0
Foreign currency transaction losses, net [5] 2.6 0.6
Shareholder litigation settlement recoveries [2],[5] (4.5) 0.0
Other adjustments [5],[13] (0.7) 0.5
Restructuring and Related Business Transformation Costs [Abstract]    
Total restructuring and related business transformation costs [5],[7] $ 4.5 $ 8.6
[1] Represents costs associated with successful and/or abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments.
[2] Represents an insurance recovery of the Company' shareholder litigation settlement in 2014.
[3] See Note 3 "Restructuring."
[4] Includes insurance recoveries of asbestos legal fees of $5.6 million in the first quarter of 2018.
[5] The reconciling items for the three month period ended March 31, 2017 have been reclassified to conform to the methodology used in the three month period ended March 31, 2018, and include the following.
[6] Represents management fees and expenses paid to the Company's Sponsor.
[7] Restructuring and related business transformation costs consist of the following.
[8] Represents costs associated with successful and/or abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments. For the three month period ended March 31, 2018 and March 31, 2017, respectively, $3.0 million and $0.8 million, respectively, of acquisition related expenses and non-cash charges were recorded to the line "Other Operating Expense, net" in the Condensed Consolidated Statement of Operations.
[9] Represents estimated environmental remediation costs and losses relating to a former production facility.
[10] Represents certain expenses related to the Company's initial public offering and subsequent secondary offerings.
[11] Represents third party expenses to comply with the requirements of Sarbanes-Oxley in 2018 and the accelerated adoption of the new revenue recognition standard (ASC 606 - Revenue from Contracts with Customers) in the first quarter of 2018, one year ahead of the required adoption date for a private company.
[12] Represents stock-based compensation expense recognized for the three month period ended March 31, 2018 of $3.4 million reduced by a $0.7 million decrease in the accrual for employer taxes related to DSUs granted to employees at the date of the initial public offering. Prior to the Company's initial public offering which occurred in May 2017, no stock-based compensation expense was recorded because the Company's repurchase rights created an implicit service period.
[13] Includes (i) the effects of the amortization of prior service costs and the amortization of gains in pension and other postretirement benefits (OPEB) expense, (ii) certain legal and compliance costs and (iii) other miscellaneous adjustments.