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Revenue (Tables)
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following tables present the Company's revenue disaggregated by products and services, geographic regions and end markets, by segment:
2023
Aerospace (A)
IndustrialTotal Company
Product and Services
Aerospace OEM$382,126 $— $382,126 
Aerospace Aftermarket 225,924 — 225,924 
Molding Solutions Products— 408,691 408,691 
Motion Control Solutions Products (B)
— 372,877 372,877 
Automation Products— 61,253 61,253 
$608,050 $842,821 $1,450,871 
Geographic Regions (C)
Americas$430,527 $364,215 794,742 
Europe115,973 312,402 428,375 
Asia58,419 157,949 216,368 
Rest of World3,131 8,255 11,386 
$608,050 $842,821 $1,450,871 
End Markets
Aerospace OEM$382,126 $14,862 $396,988 
Aerospace Aftermarket225,924 — 225,924 
Medical, Personal Care & Packaging— 201,969 201,969 
Tool and Die— 72,914 72,914 
General Industrial— 265,313 265,313 
Automotive Molding Solutions— 116,692 116,692 
Automotive Production— 109,818 109,818 
Automation— 61,253 61,253 
$608,050 $842,821 $1,450,871 
(A) The results of MB Aerospace, from the acquisition completed on August 31, 2023, have been included within the Company's revenue disaggregated by products and services, geographic regions and end markets within the Aerospace Segment for the year ended December 31, 2023.

(B) Effective January 1, 2023, the Company combined Industrial's Force & Motion Control and Engineered Components businesses to form a single strategic business unit named Motion Control Solutions. As a result of the combination, Motion Control Solutions Products reflects product revenues that were previously disclosed as Force & Motion Control Products and Engineered Components Products. Prior period amounts have been reclassified to conform to the current year presentation.

(C) Sales by geographic region are based on the location to which the product is shipped and services are delivered.
2022
AerospaceIndustrialTotal Company
Product and Services
Aerospace OEM Products$265,179 $— $265,179 
Aerospace Aftermarket163,974 — 163,974 
Molding Solutions Products— 402,598 402,598 
Motion Control Solutions Products(A)
— 370,655 370,655 
Automation Products— 59,462 59,462 
$429,153 $832,715 $1,261,868 
Geographic Regions (B)
Americas$307,712 $357,032 $664,744 
Europe79,283 296,856 376,139 
Asia37,348 172,922 210,270 
Rest of World4,810 5,905 10,715 
$429,153 $832,715 $1,261,868 
End Markets
Aerospace OEM$265,179 $12,541 $277,720 
Aerospace Aftermarket163,974 — 163,974 
Medical, Personal Care & Packaging— 186,729 186,729 
Tool and Die— 85,947 85,947 
General Industrial— 254,681 254,681 
Automotive Molding Solutions— 138,978 138,978 
Automotive Production— 94,377 94,377 
Automation— 59,462 59,462 
$429,153 $832,715 $1,261,868 
(A) Effective January 1, 2023, the Company combined Industrial's Force & Motion Control and Engineered Components businesses to form a single strategic business unit named Motion Control Solutions. As a result of the combination, Motion Control Solutions Products reflects product revenues that were previously disclosed as Force & Motion Control Products and Engineered Components Products. Prior period amounts have been reclassified to conform to the current year presentation.
(B) Sales by geographic region are based on the location to which the product is shipped and services are delivered.
2021
AerospaceIndustrialTotal Company
Product and Services
Aerospace OEM Products$246,850 $— $246,850 
Aerospace Aftermarket115,513 — 115,513 
Molding Solutions Products— 458,681 458,681 
Motion Control Solutions Products (A)
— 369,838 369,838 
Automation Products— 67,964 67,964 
$362,363 $896,483 $1,258,846 
Geographic Regions (B)
Americas$271,241 $356,518 $627,759 
Europe58,237 335,679 393,916 
Asia29,701 199,578 229,279 
Rest of World3,184 4,708 7,892 
$362,363 $896,483 $1,258,846 
End Markets
Aerospace OEM$246,850 $9,278 $256,128 
Aerospace Aftermarket115,513 — 115,513 
Medical, Personal Care & Packaging— 219,672 219,672 
Tool and Die— 95,466 95,466 
General Industrial— 255,942 255,942 
Automotive Molding Solutions— 150,125 150,125 
Automotive Production— 98,036 98,036 
Automation— 67,964 67,964 
$362,363 $896,483 $1,258,846 
(A) Effective January 1, 2023, the Company combined Industrial's Force & Motion Control and Engineered Components businesses to form a single strategic business unit named Motion Control Solutions. As a result of the combination, Motion Control Solutions Products reflects product revenues that were previously disclosed as Force & Motion Control Products and Engineered Components Products. Prior period amounts have been reclassified to conform to the current year presentation.
(B) Sales by geographic region are based on the location to which the product is shipped and services are delivered.
Contract with Customer, Asset and Liability
Net contract assets (liabilities) consisted of the following:
December 31, 2023December 31, 2022$ Change% Change
Unbilled receivables (contract assets)$59,652 $42,423 $17,229 41 %
Contract liabilities(42,428)(27,857)(14,571)52 %
Net contract assets$17,224 $14,566 $2,658 18 %
Capitalized Contract Cost
December 31, 2023December 31, 2022
Tooling$4,271 $2,728 
Design costs2,525 2,887 
$6,796 $5,615