Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table provides disaggregated revenue by reportable segment for the years ended December 31, 2021 and 2020.

	Industrial Technologies and Services				Precision and Science Technologies				Total
	2021		2020		2021		2020		2021		2020
Primary Geographic Markets
United States	$	1,554.6	$	1,142.8	$	432.2	$	297.1	$	1,986.8	$	1,439.9
Other Americas	264.9		280.7		20.5		38.7		285.4		319.4
Total Americas	1,819.5		1,423.5		452.7		335.8		2,272.2		1,759.3
EMEIA	1,363.4		1,054.4		368.1		256.5		1,731.5		1,310.9
Asia Pacific	978.1		770.3		170.6		132.7		1,148.7		903.0
Total	$	4,161.0	$	3,248.2	$	991.4	$	725.0	$	5,152.4	$	3,973.2
Product Categories
Original equipment(1)	$	2,467.1	$	1,942.8	$	822.3	$	618.8	$	3,289.4	$	2,561.6
Aftermarket(2)	1,693.9		1,305.4		169.1		106.2		1,863.0		1,411.6
Total	$	4,161.0	$	3,248.2	$	991.4	$	725.0	$	5,152.4	$	3,973.2
Pattern of Revenue Recognition
Revenue recognized at point in time(3)	$	3,811.3	$	2,937.1	$	988.3	$	725.0	$	4,799.6	$	3,662.1
Revenue recognized over time(4)	349.7		311.1		3.1		—		352.8		311.1
Total	$	4,161.0	$	3,248.2	$	991.4	$	725.0	$	5,152.4	$	3,973.2

(1)Revenues from sales of capital equipment within the Industrial Technologies and Services segment and sales of components to original equipment manufacturers in the Precision and Science Technologies segment.

(2)Revenues from sales of spare parts, accessories, other components and services in support of maintaining customer owned, installed base of the Company’s original equipment. Service revenue represents less than 10% of consolidated revenue.

(3)Revenues from short and long duration product and service contracts recognized at a point in time when control is transferred to the customer generally when product delivery has occurred and services have been rendered.

(4)Revenues primarily from long duration ETO product contracts, certain multi-year service contracts, and certain contracts for the delivery of a significant volume of substantially similar products recognized over time as contractual performance obligations are completed.

Schedule of Contract Balances

The following table provides the contract balances as of December 31, 2021 and December 31, 2020 presented in the Consolidated Balance Sheets.

	December 31, 2021		December 31, 2020
Accounts receivable, net	$	948.6	$	861.8
Contract assets	60.8		60.4
Contract liabilities	243.5		166.2