Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 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 nine month periods ended September 30, 2023 and 2022.

	Industrial Technologies and Services				Precision and Science Technologies				Total
	Three Month Period Ended September 30,
	2023		2022		2023		2022		2023		2022
Primary Geographic Markets
United States	$	590.3	$	494.5	$	144.8	$	140.4	$	735.1	$	634.9
Other Americas	92.3		83.2		7.6		7.7		99.9		90.9
Total Americas	682.6		577.7		152.4		148.1		835.0		725.8
EMEIA	449.7		347.9		114.6		109.1		564.3		457.0
Asia Pacific	296.1		274.0		43.5		58.9		339.6		332.9
Total	$	1,428.4	$	1,199.6	$	310.5	$	316.1	$	1,738.9	$	1,515.7
Product Categories
Original equipment	$	862.7	$	723.7	$	246.6	$	257.0	$	1,109.3	$	980.7
Aftermarket	565.7		475.9		63.9		59.1		629.6		535.0
Total	$	1,428.4	$	1,199.6	$	310.5	$	316.1	$	1,738.9	$	1,515.7
Pattern of Revenue Recognition
Revenue recognized at point in time(1)	$	1,306.6	$	1,099.6	$	309.2	$	315.1	$	1,615.8	$	1,414.7
Revenue recognized over time(2)	121.8		100.0		1.3		1.0		123.1		101.0
Total	$	1,428.4	$	1,199.6	$	310.5	$	316.1	$	1,738.9	$	1,515.7

	Industrial Technologies and Services				Precision and Science Technologies				Total
	Nine Month Period Ended September 30,
	2023		2022		2023		2022		2023		2022
Primary Geographic Markets
United States	$	1,698.3	$	1,378.2	$	429.8	$	410.4	$	2,128.1	$	1,788.6
Other Americas	271.2		237.5		22.0		23.1		293.2		260.6
Total Americas	1,969.5		1,615.7		451.8		433.5		2,421.3		2,049.2
EMEIA	1,304.2		1,023.0		341.9		324.0		1,646.1		1,347.0
Asia Pacific	850.3		751.0		137.0		145.4		987.3		896.4
Total	$	4,124.0	$	3,389.7	$	930.7	$	902.9	$	5,054.7	$	4,292.6
Product Categories
Original equipment	$	2,496.0	$	2,035.7	$	736.4	$	730.2	$	3,232.4	$	2,765.9
Aftermarket	1,628.0		1,354.0		194.3		172.7		1,822.3		1,526.7
Total	$	4,124.0	$	3,389.7	$	930.7	$	902.9	$	5,054.7	$	4,292.6
Pattern of Revenue Recognition
Revenue recognized at point in time(1)	$	3,793.3	$	3,122.1	$	926.5	$	899.3	$	4,719.8	$	4,021.4
Revenue recognized over time(2)	330.7		267.6		4.2		3.6		334.9		271.2
Total	$	4,124.0	$	3,389.7	$	930.7	$	902.9	$	5,054.7	$	4,292.6

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 September 30, 2023 and December 31, 2022 presented in the Condensed Consolidated Balance Sheets.

	September 30, 2023		December 31, 2022
Accounts receivable, net	$	1,216.1	$	1,122.0
Contract assets	57.0		70.6
Contract liabilities - current	343.7		305.6
Contract liabilities - noncurrent	1.1		1.1