Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

16. Segment Information

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

•Engineered Products segment provides a wide range of equipment, components, software, solutions and services for vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-markets.

•Clean Energy & Fueling segment provides components, equipment, and software and service solutions enabling safe transport of traditional and clean fuels and other hazardous substances along the supply chain, as well as the safe and efficient operation of convenience retail, retail fueling and vehicle wash establishments.

•Imaging & Identification segment supplies precision marking and coding, packaging intelligence, product traceability, brand protection and digital textile printing equipment, as well as related consumables, software and services to the global packaged and consumer goods, pharmaceutical, industrial manufacturing, fashion and apparel and other end-markets.

•Pumps & Process Solutions segment manufactures specialty pumps and flow meters, fluid connecting solutions, plastics and polymer processing equipment, and highly-engineered precision components for rotating and reciprocating machines serving single-use biopharmaceutical production, diversified industrial manufacturing, polymer processing, midstream and downstream oil and gas and other end-markets.

•Climate & Sustainability Technologies segment is a provider of innovative and energy-efficient equipment and systems that serve the commercial refrigeration, heating and cooling and beverage container-making equipment markets.

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

	Three Months Ended March 31,
	2022		2021
Revenue:
Engineered Products	$	487,647	$	428,127
Clean Energy & Fueling	458,395		389,678
Imaging & Identification	272,255		284,328
Pumps & Process Solutions	435,195		394,377
Climate & Sustainability Technologies	399,078		372,077
Intercompany eliminations	(669)		(686)
Total consolidated revenue	$	2,051,901	$	1,867,901
Net earnings:
Segment earnings (EBIT): (1)
Engineered Products	$	66,134	$	68,779
Clean Energy & Fueling	41,442		66,480
Imaging & Identification	51,529		56,992
Pumps & Process Solutions	139,340		123,645
Climate & Sustainability Technologies (2)	40,396		38,117
Total segment earnings (EBIT)	338,841		354,013
Corporate expense / other (3)	37,361		38,620
Interest expense	26,552		26,823
Interest income	(775)		(680)
Earnings before provision for income taxes	275,703		289,250
Provision for income taxes	49,550		56,481
Net earnings	$	226,153	$	232,769

(1) Segment earnings (EBIT) includes non-operating income and expense directly attributable to the segments.

(2) Q1 2022 includes $5,457 of non-cash foreign currency translation losses reclassified to earnings included within restructuring costs and a $2,117 write-off of assets related to an exit from certain Latin America countries.

(3) 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	2022		2021
United States	$	1,151,500	$	1,036,014
Europe	447,565		445,295
Asia	229,386		192,107
Other Americas	151,592		130,177
Other	71,858		64,308
Total	$	2,051,901	$	1,867,901