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Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Segment Results
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 years ended December 31, 2021, 2020 and 2019.
202120202019
Revenue
Industrial Technologies and Services$4,161.0 $3,248.2 $1,700.9 
Precision and Science Technologies991.4 725.0 316.6 
Total Revenue$5,152.4 $3,973.2 $2,017.5 
Segment Adjusted EBITDA
Industrial Technologies and Services$1,033.7 $759.8 $391.4 
Precision and Science Technologies291.4 220.2 95.8 
Total Segment Adjusted EBITDA1,325.1 980.0 487.2 
Less items to reconcile Segment Adjusted EBITDA to Income (Loss) Before Income Taxes:
Corporate expenses not allocated to segments
133.2 101.9 45.6 
Interest expense87.7 111.1 88.4 
Depreciation and amortization expense(1)
418.0 410.4 146.5 
Impairment of other intangible assets
— 19.9 — 
Restructuring and related business transformation costs(2)
18.8 88.0 19.6 
Acquisition related expenses and non-cash charges(3)
65.2 181.5 54.6 
Gain on settlement of post-acquisition contingencies
(30.1)— — 
Stock-based compensation(4)
95.9 47.0 20.2 
Loss on extinguishment of debt
9.0 2.0 0.2 
Foreign currency transaction losses (gains), net(12.0)18.6 7.3 
Adjustments to LIFO inventories(5)
33.2 39.8 0.2 
Shareholder litigation settlement recoveries(6)
— — (6.0)
Other adjustments(7)
(6.8)5.2 0.4 
Income (Loss) Before Income Taxes$513.0 $(45.4)$110.2 
(1)Depreciation and amortization expense excludes $4.1 million and $2.1 million of depreciation of rental equipment for the years ended December 31, 2021 and 2020, respectively.
(2)Restructuring and related business transformation costs consist of the following.
202120202019
Restructuring charges$13.4 $83.0 $11.1 
Facility reorganization, relocation and other costs3.1 2.1 2.4 
Other, net2.3 2.9 6.1 
Total restructuring and related business transformation costs$18.8 $88.0 $19.6 
(3)Represents costs associated with successful and 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 stock-based compensation expense recognized for the year ended December 31, 2021 of $87.2 million and associated employer taxes of $8.7 million. Represents stock-based compensation expense recognized for the year ended December 31, 2020 of $47.5 million decreased by $0.5 million due to costs associated with employer taxes. Represents stock-based compensation expense recognized for the year ended December 31, 2019 of $18.7 million and associated employer taxes of $1.5 million.
(5)For the year ended December 31, 2021, represents $33.2 million of LIFO reserve changes. For the year ended December 31, 2020, includes $4.2 million of LIFO reserve changes and $35.6 million to reduce the carrying value of inventories acquired in the merger with Ingersoll Rand Industrial accounted for under the LIFO method. We have reclassified the amounts in 2020 from “Other adjustments” and “Acquisition related expenses and non-cash charges,” respectively, to conform to the current year presentation.
(6)Represents insurance recoveries in 2019 of the Company’s shareholder litigation settlement in 2014.
(7)Includes (i) effects of amortization of prior service costs and amortization of losses in pension and other postretirement benefits (“OPEB”) expense, (ii) certain legal and compliance costs and (iii) other miscellaneous adjustments.
The following tables provide summarized information about the Company’s reportable segments.
Depreciation and Amortization Expense
202120202019
Industrial Technologies and Services$296.6 $306.0 $120.0 
Precision and Science Technologies108.3 102.4 23.6 
Corporate and other17.2 4.1 2.9 
Total depreciation and amortization expense$422.1 $412.5 $146.5 
Capital Expenditures
202120202019
Industrial Technologies and Services$53.1 $32.2 $31.5 
Precision and Science Technologies10.7 9.8 5.5 
Corporate and other0.3 — 0.9 
Total capital expenditures$64.1 $42.0 $37.9 
Identifiable Assets
20212020
Industrial Technologies and Services$9,101.7 $9,113.4 
Precision and Science Technologies3,572.2 2,852.8 
Corporate and other2,465.0 1,892.2 
Assets of discontinued operations15.6 2,200.2 
Total identifiable assets$15,154.5 $16,058.6 
Scheduled of Geographic Region
The following table presents property, plant and equipment, net by geographic region for the years ended December 31, 2021, and 2020.
20212020
United States$225.8 $203.7 
Other Americas16.5 14.6 
Total Americas242.3 218.3 
EMEA(1)
221.3 216.0 
Asia Pacific185.0 174.7 
Total$648.6 $609.0 
(1)Europe, Middle East and Africa (“EMEA”)