Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023 and 2022.

	Industrial Technologies and Services				Precision and Science Technologies				Total
	Three Month Period Ended June 30,
	2023		2022		2023		2022		2023		2022
Primary Geographic Markets
United States	$	556.8	$	468.9	$	140.8	$	135.7	$	697.6	$	604.6
Other Americas	88.0		81.0		7.1		6.9		95.1		87.9
Total Americas	644.8		549.9		147.9		142.6		792.7		692.5
EMEIA	428.5		343.3		113.9		105.2		542.4		448.5
Asia Pacific	305.1		257.3		46.3		41.6		351.4		298.9
Total	$	1,378.4	$	1,150.5	$	308.1	$	289.4	$	1,686.5	$	1,439.9
Product Categories
Original equipment	$	843.2	$	697.8	$	244.5	$	234.2	$	1,087.7	$	932.0
Aftermarket	535.2		452.7		63.6		55.2		598.8		507.9
Total	$	1,378.4	$	1,150.5	$	308.1	$	289.4	$	1,686.5	$	1,439.9
Pattern of Revenue Recognition
Revenue recognized at point in time(1)	$	1,266.2	$	1,065.9	$	306.1	$	288.7	$	1,572.3	$	1,354.6
Revenue recognized over time(2)	112.2		84.6		2.0		0.7		114.2		85.3
Total	$	1,378.4	$	1,150.5	$	308.1	$	289.4	$	1,686.5	$	1,439.9

	Industrial Technologies and Services				Precision and Science Technologies				Total
	Six Month Period Ended June 30,
	2023		2022		2023		2022		2023		2022
Primary Geographic Markets
United States	$	1,108.0	$	883.7	$	285.0	$	270.0	$	1,393.0	$	1,153.7
Other Americas	178.9		154.3		14.4		15.4		193.3		169.7
Total Americas	1,286.9		1,038.0		299.4		285.4		1,586.3		1,323.4
EMEIA	854.5		675.1		227.3		214.9		1,081.8		890.0
Asia Pacific	554.2		477.0		93.5		86.5		647.7		563.5
Total	$	2,695.6	$	2,190.1	$	620.2	$	586.8	$	3,315.8	$	2,776.9
Product Categories
Original equipment	$	1,633.3	$	1,312.0	$	489.8	$	473.2	$	2,123.1	$	1,785.2
Aftermarket	1,062.3		878.1		130.4		113.6		1,192.7		991.7
Total	$	2,695.6	$	2,190.1	$	620.2	$	586.8	$	3,315.8	$	2,776.9
Pattern of Revenue Recognition
Revenue recognized at point in time(1)	$	2,486.7	$	2,022.5	$	617.3	$	584.2	$	3,104.0	$	2,606.7
Revenue recognized over time(2)	208.9		167.6		2.9		2.6		211.8		170.2
Total	$	2,695.6	$	2,190.1	$	620.2	$	586.8	$	3,315.8	$	2,776.9

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, 2023 and December 31, 2022 presented in the Condensed Consolidated Balance Sheets.

	June 30, 2023		December 31, 2022
Accounts receivable, net	$	1,219.8	$	1,122.0
Contract assets	48.5		70.6
Contract liabilities - current	339.2		305.6
Contract liabilities - noncurrent	1.1		1.1