v3.25.2
Reportable Segments (Tables)
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Reportable and Product Sales Information Segments
Segment Financial Information
 Three Months Ended June 30, 2025
 Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$155.9 $295.3 $292.9 $338.2 $— $— $1,082.3 
Cost of sales113.1 206.2 212.2 187.3 — — 718.8 
Selling, general and administrative expenses15.1 11.1 32.7 35.3 — 51.1 145.3 
Amortization expense2.0 5.0 5.0 36.7 — — 48.7 
Operating income (loss)25.7 73.0 43.0 78.9 — (51.1)169.5 
Depreciation expense (1)
3.0 4.0 6.7 4.7 — 4.0 22.4 
Three Months Ended June 30, 2024
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$165.5 $236.7 $277.6 $360.5 $— $— $1,040.3 
Cost of sales132.1 175.9 196.8 183.9 — — 688.7 
Selling, general and administrative expenses15.5 10.7 20.7 42.8 — 46.5 136.2 
Amortization expense1.9 5.0 5.1 35.8 — (0.2)47.6 
Operating income (loss)16.0 45.1 55.0 98.0 — (46.3)167.8 
Depreciation expense (1)
3.6 4.1 1.7 7.1 — 1.9 18.4 
Six Months Ended June 30, 2025
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$309.1 $562.6 $569.0 $643.1 $— $— $2,083.8 
Cost of sales229.1 390.9 404.6 355.9 — — 1,380.5 
Selling, general and administrative expenses32.8 21.9 63.1 74.2 — 94.3 286.3 
Amortization expense3.9 9.9 10.0 71.4 — — 95.2 
Operating income (loss)43.3 139.9 91.3 141.6 — (94.3)321.8 
Depreciation expense (1)
7.3 8.1 11.7 8.3 — 6.7 42.1 
Six Months Ended June 30, 2024
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$325.2 $490.3 $514.1 $661.5 $(0.1)$— $1,991.0 
Cost of sales259.0 359.4 374.4 344.4 (0.1)— 1,337.1 
Selling, general and administrative expenses32.4 24.6 49.4 82.3 — 89.0 277.7 
Amortization expense3.8 10.0 10.2 71.7 — (0.2)95.5 
Operating income (loss)30.0 96.3 80.1 163.1 — (88.8)280.7 
Depreciation expense (1)
7.0 8.3 3.7 14.2 — 3.2 36.4 
_______________
(1)Depreciation disclosed by reportable segment is included within cost of sales and selling, general and administrative expenses.
Sales by Geography
Net sales by geographic area are reported by the destination of sales.
Three Months Ended June 30, 2025
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$56.3 $179.5 $132.7 $109.3 $— $477.8 
Europe, Middle East, Africa and India55.3 50.1 73.2 137.0 — 315.6 
Asia-Pacific43.0 65.0 78.8 74.9 — 261.7 
Rest of the World1.3 0.7 8.2 17.0 — 27.2 
Total$155.9 $295.3 $292.9 $338.2 $— $1,082.3 
Three Months Ended June 30, 2024
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$68.3 $124.8 $109.1 $145.4 $— $447.6 
Europe, Middle East, Africa and India58.5 43.7 78.1 139.6 — 319.9 
Asia-Pacific33.8 56.1 87.4 60.9 — 238.2 
Rest of the World4.9 12.1 3.0 14.6 — 34.6 
Total$165.5 $236.7 $277.6 $360.5 $— $1,040.3 
Six Months Ended June 30, 2025
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$114.9 $342.0 $255.1 $223.0 $— $935.0 
Europe, Middle East, Africa and India112.6 89.5 137.8 256.7 — 596.6 
Asia-Pacific78.6 129.6 161.7 135.4 — 505.3 
Rest of the World3.0 1.5 14.4 28.0 — 46.9 
Total$309.1 $562.6 $569.0 $643.1 $— $2,083.8 
Six Months Ended June 30, 2024
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$154.3 $282.4 $201.9 $267.5 $— $906.1 
Europe, Middle East, Africa and India104.0 83.9 143.1 260.2 — 591.2 
Asia-Pacific58.1 108.2 159.7 106.0 (0.1)431.9 
Rest of the World8.8 15.8 9.4 27.8 — 61.8 
Total$325.2 $490.3 $514.1 $661.5 $(0.1)$1,991.0 
Schedule of Segment Assets
June 30,
2025
December 31,
2024
Cryo Tank Solutions$575.4 $614.0 
Heat Transfer Systems771.0 669.7 
Specialty Products1,060.3 920.6 
Repair, Service & Leasing1,024.4 889.9 
Total assets of reportable segments3,431.1 3,094.2 
Goodwill3,066.6 2,899.9 
Identifiable intangible assets, net2,617.0 2,540.6 
Corporate604.3 589.2 
Total$9,719.0 $9,123.9