XML 86 R75.htm IDEA: XBRL DOCUMENT v3.19.1
Segment Results (Details)
$ in Millions
3 Months Ended
Mar. 31, 2019
USD ($)
Segment
Mar. 31, 2018
USD ($)
Segment Results [Abstract]    
Number of reportable segments | Segment 3  
Segment Reporting [Abstract]    
Revenue $ 620.3 $ 619.6
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes [Abstract]    
Interest expense 22.4 26.0
Restructuring and related business transformation costs 4.1 4.5
Acquisition related expenses and non-cash charges [1] 1.5 3.0
Stock-based compensation 7.5 3.4
Foreign currency transaction losses, net (3.1) (2.6)
Shareholder litigation settlement recoveries [2] (6.0) (4.5)
Income Before Income Taxes 59.1 65.8
Insurance recoveries of legal defense costs   5.6
Restructuring and Related Business Transformation Costs [Abstract]    
Restructuring charges [3] 2.0 0.0
Severance, sign-on, relocation and executive search costs 1.0 2.0
Facility reorganization, relocation and other costs 0.6 0.6
Information technology infrastructure transformation 0.3 0.0
Losses (gains) on asset disposals 0.1 (1.2)
Consultant and other advisor fees 0.1 2.6
Other, net 0.0 0.5
Total restructuring and related business transformation costs 4.1 4.5
Stock-based compensation expense recognized 7.5 3.4
Increase in stock-based compensation expense due to costs associated with employer taxes 1.8  
Decrease in stock-based compensation expense due to reduction of an accrual related to employer taxes   0.7
Industrials [Member]    
Segment Reporting [Abstract]    
Revenue 318.1 316.9
Energy [Member]    
Segment Reporting [Abstract]    
Revenue 233.1 242.2
Medical [Member]    
Segment Reporting [Abstract]    
Revenue 69.1 60.5
Operating Segments [Member]    
Segment Reporting [Abstract]    
Adjusted EBITDA 151.0 150.7
Operating Segments [Member] | Industrials [Member]    
Segment Reporting [Abstract]    
Revenue 318.1 316.9
Adjusted EBITDA 71.0 66.8
Operating Segments [Member] | Energy [Member]    
Segment Reporting [Abstract]    
Revenue 233.1 242.2
Adjusted EBITDA 60.0 68.0
Operating Segments [Member] | Medical [Member]    
Segment Reporting [Abstract]    
Revenue 69.1 60.5
Adjusted EBITDA 20.0 15.9
Corporate [Member]    
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes [Abstract]    
Corporate expenses not allocated to segments [4] 10.9 2.5
Segment Reconciling Items [Member]    
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes [Abstract]    
Interest expense 22.4 26.0
Depreciation and amortization expenses 45.5 45.0
Restructuring and related business transformation costs [5] 4.1 4.5
Acquisition related expenses and non-cash charges [6] 1.6 4.6
Expenses related to public stock offerings [7] 0.0 1.4
Establish public company financial reporting compliance [8] 0.6 0.8
Stock-based compensation [9] 9.3 2.7
Foreign currency transaction losses, net 3.1 2.6
Shareholder litigation settlement recoveries [10] (6.0) (4.5)
Other adjustments [11] 0.4 (0.7)
Restructuring and Related Business Transformation Costs [Abstract]    
Total restructuring and related business transformation costs [5] $ 4.1 $ 4.5
[1] Represents costs associated with successful and/or abandoned acquisitions, including third-party expenses, post-closure integration costs (including certain incentive and non-incentive cash compensation costs), and non-cash charges and credits arising from fair value purchase accounting adjustments.
[2] Represents an insurance recovery of the Company's shareholder litigation settlement in 2014.
[3] See Note 3 "Restructuring."
[4] Includes insurance recoveries of asbestos legal fees of $5.6 million in the three month period ended March 31, 2018.
[5] Restructuring and related business transformation costs consist of the following.
[6] Represents costs associated with successful and/or abandoned acquisitions, including third-party expenses, post-closure integration costs (including certain incentive and non-incentive cash compensation costs) and non-cash charges and credits arising from fair value purchase accounting adjustments.
[7] Represents certain expenses related to the Company's initial stock offering and subsequent secondary offerings.
[8] Represents third party expenses to comply with the requirements of Sarbanes-Oxley and the accelerated adoption of the 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.
[9] Represents stock-based compensation expense recognized for the three month period ended March 31, 2019 of $7.5 million, increased by $1.8 million due to costs associated with employer taxes. Represents stock-based compensation expense recognized for the three month period ended March 31, 2018 of $3.4 million, decreased by $0.7 million due to the reduction of an accrual related to employer taxes.
[10] Represents an insurance recovery of the Company' shareholder litigation settlement in 2014.
[11] Includes (i) effects of amortization of prior service costs and amortization of losses in pension and other postemployment ("OPEB") expense, (ii) certain legal and compliance costs and (iii) other miscellaneous adjustments.