Segment Information

3 Months Ended

Mar. 31, 2020

17. Segment Information

The Company categorizes its operating companies into five reportable segments as follows:

•Engineered Products segment is a provider of a wide range of products, software and services that have broad customer applications across a number of markets, including aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing.

•Fueling Solutions segment is focused on providing components, equipment and software and service solutions enabling safe transport of fuels and other hazardous fluids along the supply chain, as well as the safe and efficient operation of retail fueling and vehicle wash establishments.

•Imaging & Identification segment supplies precision marking and coding, product traceability and digital textile printing equipment, as well as related consumables, software and services.

•Pumps & Process Solutions segment manufactures specialty pumps, fluid handling components, plastics and polymer processing equipment, and highly engineered components for rotating and reciprocating machines.

•Refrigeration & Food Equipment segment is a provider of innovative and energy-efficient equipment and systems that serve the commercial refrigeration, heating and cooling and food equipment markets.

Segment financial information and a reconciliation of segment results to consolidated results was as follows:


	Three Months Ended March 31,
	2020		2019
Revenue:
Engineered Products	$	408,160	$	418,851
Fueling Solutions	359,982		373,050
Imaging & Identification	256,765		268,354
Pumps & Process Solutions	319,536		330,219
Refrigeration & Food Equipment	311,913		334,643
Intra-segment eliminations	(417)		(360)
Total consolidated revenue	$	1,655,939	$	1,724,757
Net earnings:
Segment earnings (EBIT): ⁽¹⁾
Engineered Products	$	69,094	$	67,119
Fueling Solutions	53,498		37,230
Imaging & Identification	51,482		55,955
Pumps & Process Solutions ⁽²⁾	66,079		14,991
Refrigeration & Food Equipment⁽³⁾	23,529		24,807
Total segment earnings (EBIT)	263,682		200,102
Corporate expense / other ⁽⁴⁾	24,097		30,866
Interest expense	27,268		31,808
Interest income	(1,183)		(890)
Earnings before provision for income taxes	213,500		138,318
Provision for income taxes	37,221		32,613
Net earnings	$	176,279	$	105,705

⁽¹⁾Segment earnings (EBIT) includes non-operating income and expense directly attributable to the segments. Non-operating income and expense includes gain on sale of a business and other income, net.

⁽²⁾ The three months ended March 31, 2019 includes a $46,946 loss on assets held for sale for Finder.

⁽³⁾ The three months ended March 31, 2020 includes a $6,551 gain on the sale of AMS Chino.

⁽⁴⁾ Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services overhead costs, deal related expenses and various administrative expenses relating to the corporate headquarters.

The following table presents revenue disaggregated by geography based on the location of the Company's customer:


	Three Months Ended March 31,
Revenue by geography	2020		2019
United States	$	956,640	$	919,892
Europe	361,166		402,645
Asia	154,275		196,350
Other Americas	129,049		138,118
Other	54,809		67,752
Total	$	1,655,939	$	1,724,757