Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

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


	Years Ended December 31,
	2022			2021			2020
Revenue:
Engineered Products	$	2,043,632		$	1,780,827		$	1,531,277
Clean Energy & Fueling	1,878,507			1,648,153			1,476,282
Imaging & Identification	1,123,815			1,163,367			1,038,178
Pumps & Process Solutions	1,728,235			1,708,634			1,324,003
Climate & Sustainability Technologies	1,737,724			1,608,175			1,316,090
Intersegment eliminations	(3,825)			(2,075)			(2,070)
Total consolidated revenue	$	8,508,088		$	7,907,081		$	6,683,760
Net earnings:
Segment earnings:
Engineered Products	$	346,519		$	277,852		$	265,143
Clean Energy & Fueling	352,993			327,186			290,233
Imaging & Identification	268,084			266,932			224,033
Pumps & Process Solutions	533,018			575,593			348,733
Climate & Sustainability Technologies	254,484			185,517			126,093
Total segment earnings	1,755,098			1,633,080			1,254,235
Purchase accounting expenses (1)	181,103			141,980			138,515
Restructuring and other costs (2)	38,990			38,436			51,472
Loss (gain) on dispositions (3)	194			(206,338)			(5,213)
Corporate expense / other (4)	135,280			156,298			119,361
Interest expense	116,456			106,319			111,937
Interest income	(4,430)			(4,441)			(3,571)

Earnings before provision for income taxes	1,287,505			1,400,826			841,734
Provision for income taxes	222,129			277,008			158,283
Net earnings	$	1,065,376		$	1,123,818		$	683,451
Segment margins:
Engineered Products	17.0		%	15.6		%	17.3		%
Clean Energy & Fueling	18.8		%	19.9		%	19.7		%
Imaging & Identification	23.9		%	22.9		%	21.6		%
Pumps & Process Solutions	30.8		%	33.7		%	26.3		%
Climate & Sustainability Technologies	14.6		%	11.5		%	9.6		%
Total segments	20.6		%	20.7		%	18.8		%
Net earnings	12.5		%	14.2		%	10.2		%
Depreciation and amortization:
Other depreciation and amortization (5):
Engineered Products	$	27,745		$	27,036		$	25,242
Clean Energy & Fueling	28,815			25,842			26,053
Imaging & Identification	14,185			14,189			13,795
Pumps & Process Solutions	40,839			39,272			38,667
Climate & Sustainability Technologies	26,204			26,987			24,582
Total other depreciation and amortization	137,788			133,326			128,339
Corporate depreciation and amortization	8,137			7,250			6,535
Depreciation and amortization included in purchase accounting expenses and restructuring and other	161,613			149,547			144,177
Consolidated total	$	307,538		$	290,123		$	279,051

(1) Purchase accounting expenses are primarily comprised of amortization of intangible assets and charges related to fair value step-ups for acquired inventory sold during the period.

(2) Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, exit costs, and other asset charges. Restructuring and other costs consist of the following:


	Years Ended December 31,
	2022		2021		2020
Restructuring	$	30,480	$	26,705	$	44,468
Other costs, net	8,510		11,731		7,004
Restructuring and other costs	$	38,990	$	38,436	$	51,472

(3) Loss (gain) on dispositions includes working capital adjustments related to dispositions.

(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.

(5) Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs.

Reconciliation of Assets from Segment to Consolidated

Selected financial information by segment (continued):


Capital expenditures:	2022		2021		2020
Engineered Products	$	39,765	$	48,453	$	23,515
Clean Energy & Fueling	33,489		25,167		26,903
Imaging & Identification	14,695		10,671		10,690
Pumps & Process Solutions	82,817		44,578		52,804
Climate & Sustainability Technologies	41,426		34,335		42,923
Corporate	8,770		8,261		8,857
Consolidated total	$	220,962	$	171,465	$	165,692


Total assets at December 31:	2022		2021
Engineered Products	$	1,771,689	$	1,678,317
Clean Energy & Fueling	3,068,260		3,201,504
Imaging & Identification	1,821,649		1,871,039
Pumps & Process Solutions (6)	2,161,210		1,709,852
Climate & Sustainability Technologies	1,525,449		1,358,118
Corporate (7)	548,262		584,797


Total assets	$	10,896,519	$	10,403,627

(6) Increase primarily driven by 2022 acquisitions. See Note 3 — Acquisitions for additional information.

(7) Corporate assets are comprised primarily of cash and cash equivalents.

Revenue from External Customers and Long-Lived Assets, by Geographical Areas


	Revenue						Long-Lived Assets (8)
	Years Ended December 31,						At December 31,
	2022		2021		2020		2022		2021
United States	$	4,847,321	$	4,305,957	$	3,677,285	$	629,140	$	584,948
Europe	1,792,020		1,797,138		1,482,520		291,921		283,952
Asia	939,093		901,141		745,150		57,253		62,210
Other Americas	667,673		612,751		535,091		21,763		20,627
Other	261,981		290,094		243,714		4,748		5,573
Consolidated total	$	8,508,088	$	7,907,081	$	6,683,760	$	1,004,825	$	957,310

(8) Long-lived assets are comprised of net property, plant and equipment.