Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue by Segment

The following tables provide disaggregated revenue by reportable segment for the three and six month periods ended June 30, 2022 and 2021.

	Industrial Technologies and Services				Precision and Science Technologies				Total
	Three Month Period Ended June 30,
	2022		2021		2022		2021		2022		2021
Primary Geographic Markets
United States	$	468.9	$	391.9	$	135.7	$	103.1	$	604.6	$	495.0
Other Americas	81.0		66.6		6.9		3.5		87.9		70.1
Total Americas	549.9		458.5		142.6		106.6		692.5		565.1
EMEIA	343.3		336.3		105.2		83.1		448.5		419.4
Asia Pacific	257.3		252.7		41.6		41.9		298.9		294.6
Total	$	1,150.5	$	1,047.5	$	289.4	$	231.6	$	1,439.9	$	1,279.1
Product Categories
Original equipment	$	697.8	$	623.7	$	234.2	$	198.5	$	932.0	$	822.2
Aftermarket	452.7		423.8		55.2		33.1		507.9		456.9
Total	$	1,150.5	$	1,047.5	$	289.4	$	231.6	$	1,439.9	$	1,279.1
Pattern of Revenue Recognition
Revenue recognized at point in time(1)	$	1,065.9	$	959.9	$	288.7	$	231.0	$	1,354.6	$	1,190.9
Revenue recognized over time(2)	84.6		87.6		0.7		0.6		85.3		88.2
Total	$	1,150.5	$	1,047.5	$	289.4	$	231.6	$	1,439.9	$	1,279.1

	Industrial Technologies and Services				Precision and Science Technologies				Total
	Six Month Period Ended June 30,
	2022		2021		2022		2021		2022		2021
Primary Geographic Markets
United States	$	883.7	$	745.0	$	270.0	$	201.2	$	1,153.7	$	946.2
Other Americas	154.3		126.8		15.4		7.0		169.7		133.8
Total Americas	1,038.0		871.8		285.4		208.2		1,323.4		1,080.0
EMEIA	675.1		655.7		214.9		163.2		890.0		818.9
Asia Pacific	477.0		433.8		86.5		75.9		563.5		509.7
Total	$	2,190.1	$	1,961.3	$	586.8	$	447.3	$	2,776.9	$	2,408.6
Product Categories
Original equipment	$	1,312.0	$	1,152.4	$	473.2	$	377.2	$	1,785.2	$	1,529.6
Aftermarket	878.1		808.9		113.6		70.1		991.7		879.0
Total	$	2,190.1	$	1,961.3	$	586.8	$	447.3	$	2,776.9	$	2,408.6
Pattern of Revenue Recognition
Revenue recognized at point in time(1)	$	2,022.5	$	1,807.8	$	584.2	$	445.8	$	2,606.7	$	2,253.6
Revenue recognized over time(2)	167.6		153.5		2.6		1.5		170.2		155.0
Total	$	2,190.1	$	1,961.3	$	586.8	$	447.3	$	2,776.9	$	2,408.6

(1)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.

(2)Revenues primarily from long duration ETO product contracts and certain contracts for 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 June 30, 2022 and December 31, 2021 presented in the Condensed Consolidated Balance Sheets.

	June 30, 2022		December 31, 2021
Accounts receivable, net	$	1,018.5	$	948.6
Contract assets	62.1		60.8
Contract liabilities - current	270.0		242.1
Contract liabilities - noncurrent	1.2		1.4

Schedule of Allowance for Credit Losses

The allowance for credit losses for the three and six month periods ended June 30, 2022 and 2021 consisted of the following.

	For the Three Month Period Ended June 30,				For the Six Month Period Ended June 30,
	2022		2021		2021		2021
Balance at beginning of the period	$	43.7	$	49.2	$	42.3	$	50.9
Provision charged to expense	4.7		1.3		6.7		1.6
Write-offs, net of recoveries	(1.0)		(1.7)		(1.5)		(2.7)
Foreign currency translation and other	(2.2)		0.5		(2.3)		(0.5)
Balance at end of the period	$	45.2	$	49.3	$	45.2	$	49.3