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Segment Results (Tables)
 9 Months Ended
Sep. 30, 2022
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 from Continuing Operations Before Income Taxes for the three and nine month periods ended September 30, 2022 and 2021.
For the Three Month Period Ended September 30,For the Nine Month Period Ended September 30,
2022202120222021
Revenue
Industrial Technologies and Services$1,199.6 $1,070.7 $3,389.7 $3,032.0 
Precision and Science Technologies316.1 254.3 902.9 701.6 
Total Revenue$1,515.7 $1,325.0 $4,292.6 $3,733.6 
Segment Adjusted EBITDA
Industrial Technologies and Services$314.0 $272.9 $853.4 $743.0 
Precision and Science Technologies92.0 75.5 254.8 213.8 
Total Segment Adjusted EBITDA$406.0 $348.4 $1,108.2 $956.8 
Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes:
Corporate expenses not allocated to segments$29.9 $34.7 $93.6 $107.0 
Interest expense26.6 22.5 68.8 68.3 
Depreciation and amortization expense (a)
114.2 101.5 325.4 307.3 
Restructuring and related business transformation costs (b)
7.2 3.1 30.9 12.5 
Acquisition and other transaction related expenses and non-cash charges (c)
12.1 14.4 27.0 39.2 
Stock-based compensation (d)
27.1 29.8 69.3 72.9 
Foreign currency transaction losses (gains), net(6.7)1.1 (12.3)(13.6)
Loss on extinguishment of debt— 9.0 1.1 9.0 
Adjustments to LIFO inventories33.0 — 33.0 — 
Gain on settlement of post-acquisition contingencies (e)
(6.2)— (6.2)(30.1)
Other adjustments (f)
(4.4)(3.6)(18.7)(3.8)
Income from Continuing Operations Before Income Taxes173.2 135.9 496.3 388.1 
Provision for income taxes30.3 2.7 104.6 25.8 
Income (loss) on equity method investments2.6 (2.2)(2.5)(2.9)
Income from Continuing Operations145.5 131.0 389.2 359.4 
Income (loss) from discontinued operations, net of tax0.5 (4.2)0.6 (88.1)
Net Income$146.0 $126.8 $389.8 $271.3 
a)Depreciation and amortization expense excludes $0.8 million and $1.0 million of depreciation of rental equipment for the three month periods ended September 30, 2022 and 2021, respectively, and excludes $2.6 million and $3.0 million for the nine month periods ended September 30, 2022 and 2021, respectively.
b)Restructuring and related business transformation costs consist of the following.
For the Three Month Period Ended September 30,For the Nine Month Period Ended September 30,
2022202120222021
Restructuring charges$6.7 $1.1 $28.1 $10.3 
Facility reorganization, relocation and other costs0.5 2.0 2.8 2.0 
Other, net— — — 0.2 
Total restructuring and related business transformation costs$7.2 $3.1 $30.9 $12.5 
c)Represents costs associated with successful and abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments.
d)Represents stock-based compensation expense recognized for the three and nine month periods ended September 30, 2022 of $20.1 million and $62.3 million, respectively, and increased by $7.0 million for the three and nine month periods ended September 30, 2022, due to costs associated with employer taxes related to the All-Employee Equity Grant.
Represents stock-based compensation expense recognized for the three and nine month periods ended September 30, 2021 of $21.9 million and $65.0 million, respectively, and increased by $7.9 million for the three and nine month periods ended September 30, 2021, due to costs associated with employer taxes related to the All-Employee Equity Grant.
e)Represents gains from settling post-acquisition contingencies related to the Merger outside of the measurement period.
f)Includes (i) pension and other postemployment (“OPEB”) plan costs other than service cost, (ii) interest income on cash and cash equivalents and (iii) other miscellaneous adjustments.