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Segment Information
 6 Months Ended
Jun. 30, 2024
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 to the vehicle aftermarket, waste handling, aerospace and defense, industrial winch and hoist, and fluid dispensing end-markets.

•Clean Energy & Fueling segment provides components, equipment, software solutions and services enabling safe and reliable storage, transport and dispensing of traditional and clean fuels (including liquefied natural gas, hydrogen, and electric vehicle charging), cryogenic gases, and other hazardous substances along the supply chain, and safe and efficient operation of convenience retail, retail fueling and vehicle wash establishments.

•Imaging & Identification segment supplies precision marking and coding, 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, textile and other end-markets.

•Pumps & Process Solutions segment manufactures specialty pumps and flow meters, fluid transfer connectors, highly engineered precision components, instruments and digital controls for rotating and reciprocating machines, polymer processing equipment, serving single-use biopharmaceutical production, diversified industrial manufacturing applications, chemical production, plastics and polymer processing, midstream and downstream oil and gas, clean energy markets, thermal management, food and beverage, semiconductor production and medical applications and other end-markets.

•Climate & Sustainability Technologies segment is a provider of innovative and energy-efficient equipment, components and parts for the commercial refrigeration, heating and cooling and beverage can-making equipment end-markets.

Management uses segment earnings to evaluate segment performance and allocate resources. Segment earnings is defined as earnings before purchase accounting expenses, restructuring and other costs (benefits), loss (gain) on disposition, disposition costs, corporate expenses/other, interest expense, interest income and provision for income taxes.
Segment financial information and a reconciliation of segment results to consolidated results were as follows:
 Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Revenue:  
Engineered Products$514,837 $473,687 $1,057,977 $971,236 
Clean Energy & Fueling463,014 441,166 908,067 871,895 
Imaging & Identification287,593 271,932 564,399 555,023 
Pumps & Process Solutions477,239 465,626 942,968 879,507 
Climate & Sustainability Technologies436,706 449,001 800,998 904,326 
Intersegment eliminations(1,127)(1,326)(2,206)(2,878)
Total consolidated revenue$2,178,262 $2,100,086 $4,272,203 $4,179,109 
Net earnings: 
Segment earnings:
  
Engineered Products$101,247 $73,076 $205,216 $157,351 
Clean Energy & Fueling87,536 83,616 157,211 157,221 
Imaging & Identification75,786 61,336 145,745 129,651 
Pumps & Process Solutions137,217 129,337 255,954 244,581 
Climate & Sustainability Technologies79,127 76,074 129,886 149,852 
Total segment earnings480,913 423,439 894,012 838,656 
Purchase accounting expenses (1)
45,697 40,200 91,248 82,879 
Restructuring and other costs (2)
11,590 18,143 36,274 32,196 
Loss (gain) on disposition (3)
663 — (529,280)— 
Corporate expense / other (4)
41,380 33,922 83,697 73,994 
Interest expense32,374 33,804 68,739 68,018 
Interest income(4,080)(2,653)(8,837)(4,744)
Earnings before provision for income taxes353,289 300,023 1,152,171 586,313 
Provision for income taxes71,467 57,784 238,128 115,500 
Net earnings$281,822 $242,239 $914,043 $470,813 
(1) Purchase accounting expenses are primarily comprised of amortization of acquired intangible assets.
(2) Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges. Restructuring and other costs consist of the following:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Restructuring$9,137 $16,399 $27,792 $28,875 
Other costs, net2,453 1,744 8,482 3,321 
Restructuring and other costs$11,590 $18,143 $36,274 $32,196 
(3) Loss (gain) on disposition due to the sale of De-Sta-Co in the Engineered Products segment.
(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 and digital 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 customers:
Three Months Ended June 30,Six Months Ended June 30,
Revenue by geography2024202320242023
United States$1,296,776 $1,161,982 $2,519,468 $2,333,346 
Europe411,381 446,307 844,294 879,148 
Asia200,459 230,805 403,533 445,655 
Other Americas201,871 168,573 366,174 340,758 
Other67,775 92,419 138,734 180,202 
Total$2,178,262 $2,100,086 $4,272,203 $4,179,109