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Segment Results (Tables)
9 Months Ended
Sep. 30, 2018
Segment Results [Abstract]  
Summarized Financial Information on Operations by Reportable Segment
The following table provides summarized information about the Company's operations by reportable segment and reconciles Segment Adjusted EBITDA to Income (Loss) Before Income Taxes for the three month and nine month periods ended September 30, 2018 and 2017.

  
For the Three
Month Period Ended
September 30,
  
For the Nine
Month Period Ended
September 30,
 
  
2018
  
2017
  
2018
  
2017
 
Revenue
            
Industrials
 
$
320.0
  
$
288.2
  
$
965.7
  
$
819.0
 
Energy
  
298.8
   
301.6
   
814.1
   
719.4
 
Medical
  
70.5
   
59.8
   
197.3
   
172.0
 
Total Revenue
 
$
689.3
  
$
649.6
  
$
1,977.1
  
$
1,710.4
 
Segment Adjusted EBITDA
                
Industrials
 
$
72.1
  
$
63.1
  
$
210.0
  
$
173.7
 
Energy
  
94.9
   
98.6
   
242.5
   
199.2
 
Medical
  
20.5
   
16.8
   
54.4
   
46.9
 
Total Segment Adjusted EBITDA
 
$
187.5
  
$
178.5
  
$
506.9
  
$
419.8
 
Less items to reconcile Segment Adjusted EBITDA to Income (Loss) Before Income Taxes(1):
                
Corporate expenses not allocated to segments(a)
 
$
5.3
  
$
13.8
  
$
14.8
  
$
30.9
 
Interest expense
  
24.4
   
30.1
   
76.5
   
115.4
 
Depreciation and amortization expense
  
44.4
   
43.5
   
134.6
   
126.9
 
Sponsor fees and expenses(b)
  
-
   
-
   
-
   
17.3
 
Restructuring and related business transformation costs(c)
  
12.3
   
6.3
   
25.2
   
20.5
 
Acquisition related expenses and non-cash charges(d)
  
2.8
   
1.2
   
13.1
   
3.1
 
Environmental remediation loss reserve(e)
  
-
   
-
   
-
   
0.9
 
Expenses related to public stock offerings(f)
  
0.3
   
0.5
   
2.2
   
3.6
 
Establish public company financial reporting compliance(g)
  
1.3
   
3.8
   
3.2
   
7.2
 
Stock-based compensation(h)
  
1.1
   
9.8
   
2.9
   
166.0
 
Foreign currency transaction (gains) losses, net
  
(0.8
)
  
1.7
   
(0.6
)
  
6.3
 
Loss on extinguishment of debt(i)
  
0.9
   
34.1
   
1.0
   
84.5
 
Shareholder litigation settlement recoveries(j)
  
-
   
-
   
(4.5
)
  
-
 
Other adjustments(k)
  
0.7
   
1.3
   
0.4
   
3.5
 
Income (Loss) Before Income Taxes
 
$
94.8
  
$
32.4
  
$
238.1
  
$
(166.3
)


(1)
The reconciling items for the three month and nine month periods ended September 30, 2017 have been reclassified to conform to the methodology used in the three and nine month periods ended September 30, 2018, and include the following.


(a)
Includes insurance recoveries of asbestos legal fees of $5.6 million in the nine month period ended September 30, 2018.


(b)
Represents management fees and expenses paid to the Company's Sponsor.
 

 (c)
Restructuring and related business transformation costs consist of the following.

  
For the Three
Month Period Ended
September 30,
  
For the Nine
Month Period Ended
September 30,
 
  
2018
  
2017
  
2018
  
2017
 
Restructuring charges
 
$
5.4
  
$
2.8
  
$
5.4
  
$
4.9
 
Severance, sign-on, relocation and executive search costs
  
(0.1
)
  
0.6
   
3.8
   
2.2
 
Facility reorganization, relocation and other costs
  
1.1
   
1.0
   
2.4
   
3.9
 
Information technology infrastructure transformation
  
0.3
   
0.8
   
0.5
   
3.4
 
Losses (gains) on asset and business disposals
  
0.1
   
(0.6
)
  
(1.1
)
  
2.0
 
Consultant and other advisor fees
  
3.4
   
0.5
   
10.0
   
1.7
 
Other, net
  
2.1
   
1.2
   
4.2
   
2.4
 
Total restructuring and related business transformation costs
 
$
12.3
  
$
6.3
  
$
25.2
  
$
20.5
 


(d)
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.


(e)
Represents estimated environmental remediation costs and losses relating to a former production facility.


(f)
Represents expenses related to the Company's initial public offering and subsequent secondary offerings.


(g)
Represents third party expenses to comply with the requirements of Sarbanes-Oxley in 2018 and the accelerated adoption of new accounting standards (ASC 606 – Revenue from Contracts with Customers and ASC 842 - Leases) in the first quarter of 2018 and 2019 respectively, one year ahead of the required adoption dates for a private company.  These expenses were previously included in "Expenses related to initial stock offering" and prior periods have been restated to conform to current period presentation.


(h)
Represents stock-based compensation expense recognized for the three month period ended September 30, 2018 of $0.9 million and employer taxes related to stock option exercises of $0.2 million.  Represents stock-based compensation expense recognized for the nine month period ended September 30, 2018 of $6.1 million, reduced by $3.2 million primarily due to a decrease in the estimated accrual for employer taxes related to DSUs as a result of the achievement of employer tax caps in countries outside of the United States.

Represents stock-based compensation expense recognized for stock options outstanding of $7.8 million and $69.2 million for the three month and nine month periods ended September 30, 2017 and DSUs granted to employees at the date of the initial public offering of $2.0 million and $96.8 million under the 2013 Stock Incentive Plan for the three and nine month periods ended September 30, 2017.


(i)
Represents losses on extinguishment of the senior notes and a portion of the U.S. Term Loan and losses reclassified from AOCI into income related to the amendment of the interest rate swaps in conjunction with the debt repayment.


(j)
Represents an insurance recovery of the Company's shareholder litigation settlement in 2014.


(k)
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.