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Segment Results (Tables)
 6 Months Ended
Jun. 30, 2019
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 Before Income Taxes for the three month and six month periods ended June 30, 2019 and 2018.


 
For the Three
Month Period
Ended
June 30,
    
For the Six
Month Period
Ended
June 30,
  
   
2019
    
2018
    
2019
    
2018
  
Revenue
                        
Industrials
  
$
334.3
    
$
328.7
    
$
652.4
    
$
645.6
  
Energy
    
222.8
      
273.1
      
455.9
      
515.3
  
Medical
    
72.0
      
66.4
      
141.1
      
126.8
  
Total Revenue
  
$
629.1
    
$
668.2
    
$
1,249.4
    
$
1,287.7
  
Segment Adjusted EBITDA
                                
Industrials
  
$
76.6
    
$
71.1
    
$
147.7
      
137.9
  
Energy
    
56.3
      
79.7
      
116.3
      
147.6
  
Medical
    
21.4
      
18.0
      
41.4
      
33.9
  
Total Segment Adjusted EBITDA
  
$
154.3
    
$
168.8
    
$
305.4
    
$
319.4
  
Less items to reconcile Segment Adjusted EBITDA to Income
                                
Before Income Taxes:
                                
Corporate expenses not allocated to segments(1)
  
$
6.7
    
$
7.2
    
$
17.7
    
$
9.6
  
Interest expense
    
22.4
      
26.1
      
44.8
      
52.1
  
Depreciation and amortization expense
    
44.4
      
45.3
      
89.9
      
90.2
  
Restructuring and related business transformation costs(2)
    
2.0
      
8.4
      
6.1
      
12.9
  
Acquisition related expenses and non-cash charges(3)
    
17.1
      
5.7
      
18.7
      
10.3
  
Expenses related to public stock offerings(4)
    
—
      
0.5
      
—
      
1.9
  
Establish public company financial reporting compliance(5)
    
—
      
1.1
      
0.6
      
1.9
  
Stock-based compensation(6)
    
7.1
      
(0.8
)
    
16.4
      
1.9
  
Foreign currency transaction losses (gains), net
    
0.6
      
(2.4
)
    
3.7
      
0.2
  
Loss on extinguishment of debt (7)
    
0.2
      
0.2
      
0.2
      
0.2
  
Shareholder litigation settlement recoveries(8)
    
—
      
—
      
(6.0
)
    
(4.5
)
Other adjustments(9)
    
0.6
      
—
      
0.9
      
(0.7
)
Income Before Income Taxes
  
$
53.2
    
$
77.5
    
$
112.4
    
$
143.4
  

(1)
Includes insurance recoveries of asbestos legal fees of $5.6 million in the six month period ended June 30, 2018.


(2)
Restructuring and related business transformation costs consist of the following.

 
For the Three
Month Period
Ended
June 30,
    
For the Six
Month Period
Ended
June 30,
  
   
2019
    
2018
    
2019
    
2018
  
Restructuring charges
  
$
0.8
    
$
—
    
$
2.8
    
$
—
  
Severance, sign-on, relocation and executive search costs
    
0.2
      
1.9
      
1.2
      
3.9
  
Facility reorganization, relocation and other costs
    
0.5
      
0.7
      
1.1
      
1.3
  
Information technology infrastructure transformation
    
0.4
      
0.2
      
0.7
      
0.2
  
Gains on asset disposals
    
(0.4
)
    
—
      
(0.3
)
    
(1.2
)
Consultant and other advisor fees
    
0.1
      
4.0
      
0.2
      
6.6
  
Other, net
    
0.4
      
1.6
      
0.4
      
2.1
  
Total restructuring and related business transformation costs
  
$
2.0
    
$
8.4
    
$
6.1
    
$
12.9
  

(3)
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.


(4)
Represents certain expenses related to the Company’s secondary stock offerings.


(5)
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.


(6)
Represents stock-based compensation expense recognized for the three month and six month periods ended June 30, 2019 of $6.0 million and $13.6 million, respectively increased by $1.1 million and $2.8 million  for the three month and six month periods ended June 30, 2019, respectively, due to costs associated with employer taxes.


Represents stock-based compensation expense recognized for the three month and six month periods ended June 30, 2018 of $1.8 million and $5.2 million, respectively, reduced by a $2.6 million and $3.3 million decrease in the estimated accrual for employer taxes for the three month and six month periods ended June 30, 2018, respectively, as a result of the achievement of employer tax caps in countries outside of the United States.


(7)
Represents losses on extinguishment of a portion of the U.S. term loan and the amendment of the revolving credit facility.
(8)
Represents an insurance recovery of the Company’ shareholder litigation settlement in 2014.


(9)
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.