Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

The following table provides summarized information about the Company’s operations by reportable segment and reconciles Segment Adjusted EBITDA to Income Before Income Taxes for the three month periods ended March 31, 2026 and 2025.


	Industrial Technologies and Services				Precision and Science Technologies				Total
	Three Month Period Ended March 31,
	2026		2025		2026		2025		2026		2025
Revenue	$	1,444.5	$	1,352.1	$	402.7	$	364.7	$	1,847.2	$	1,716.8
Segment cost of sales(1)	814.4		729.9		206.0		188.6		1,020.4		918.5
Segment selling and administrative expenses(2)	244.2		231.7		74.7		69.9		318.9		301.6
Other segment items(3)	0.4		1.4		0.1		—		0.5		1.4
Segment Adjusted EBITDA	$	385.5	$	389.1	$	121.9	$	106.2	$	507.4	$	495.3

(1)Segment cost of sales excludes adjustments to LIFO inventories, depreciation and amortization expense, restructuring and related business transformation costs, acquisition and other transaction related expenses and non-cash charges.

(2)Segment selling and administrative expenses excludes depreciation and amortization expense, restructuring and related business transformation costs, acquisition and other transaction related expenses and non-cash charges.

(3)Other miscellaneous segment expenses (income).


	For the Three Month Period Ended March 31,
		2026		2025











Total Segment Adjusted EBITDA		$	507.4	$	495.3
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes:
Corporate expenses not allocated to segments		$	38.3	$	35.6
Interest expense		63.8		61.2
Depreciation and amortization expense (a)		135.8		118.9

Restructuring and related business transformation costs (b)		8.7		5.4
Acquisition and other transaction related expenses and non-cash charges (c)		13.6		9.8
Stock-based compensation		15.9		14.2
Foreign currency transaction losses, net		2.2		6.8

Adjustments to LIFO inventories		5.4		3.0
Cybersecurity incident costs (d)		—		(0.2)

Interest income on cash and cash equivalents		(5.1)		(10.3)
Other adjustments (e)		(1.1)		(2.2)
Income Before Income Taxes		229.9		253.1
Provision for income taxes		36.1		58.5
Loss on equity method investments		—		(6.2)


Net Income		$	193.8	$	188.4

a)Depreciation and amortization expense excludes $1.1 million and $1.1 million of depreciation of rental equipment for the three month periods ended March 31, 2026 and 2025, respectively.

b)Restructuring and related business transformation costs consist of the following.


	For the Three Month Period Ended March 31,
		2026		2025
Restructuring charges		$	8.7	$	5.3
Facility reorganization, relocation and other costs		—		0.1

Total restructuring and related business transformation costs		$	8.7	$	5.4

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 expected non-recoverable costs associated with a cybersecurity event, net of insurance recoveries.

e)Includes (i) pension and other postemployment plan costs other than service cost and (ii) other miscellaneous adjustments.

The following tables provide summarized information about the Company’s reportable segments.

Depreciation and Amortization Expense


	For the Three Month Period Ended March 31,
		2026		2025
Industrial Technologies and Services		$	71.2	$	67.6
Precision and Science Technologies		64.6		51.2
Corporate and other		1.1		1.2
Total depreciation and amortization expense		$	136.9	$	120.0

Capital Expenditures


	For the Three Month Period Ended March 31,
		2026		2025
Industrial Technologies and Services		$	29.8	$	26.4
Precision and Science Technologies		6.2		6.9
Corporate and other		0.3		0.4
Total capital expenditures		$	36.3	$	33.7

Identifiable Assets


	March 31, 2026		December 31, 2025
Industrial Technologies and Services	$	11,172.2	$	11,266.4
Precision and Science Technologies	5,643.3		5,656.4
Corporate and other	1,402.7		1,374.4
Total identifiable assets	$	18,218.2	$	18,297.2