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REVENUES FROM CONTRACTS
 6 Months Ended
Jun. 27, 2026
Revenue from Contract with Customer [Abstract]  
REVENUES FROM CONTRACTS REVENUES FROM CONTRACTS
Disaggregated Revenues

We disaggregate revenue from contracts with customers by major product line and based on the timing of recognition for each of our reportable segments, as we believe such disaggregation best depicts how the nature, amount, timing, and uncertainty of our revenues and cash flows are affected by economic factors, with such disaggregation presented below for the three and six months ended June 27, 2026 and June 28, 2025:
Three months ended June 27, 2026
Reportable SegmentsHVACDetection and MeasurementTotal
Major product lines
Package and process cooling equipment and services, and engineered air movement and handling solutions$319.0 $— $319.0 
Hydronic heating, electrical heating, and ventilation161.6 — 161.6 
Underground locators, inspection and rehabilitation
 equipment, and robotic systems		— 69.9 69.9 
Communication technologies, aids to navigation, and transportation systems— 128.5 128.5 
$480.6 $198.4 $679.0 
Timing of Revenue Recognition
Revenues recognized at a point in time$399.4 $153.8 $553.2 
Revenues recognized over time81.2 44.6 125.8 
$480.6 $198.4 $679.0 

Six months ended June 27, 2026
Reportable SegmentsHVACDetection and MeasurementTotal
Major product lines
Package and process cooling equipment and services, and engineered air movement and handling solutions$555.0 $— $555.0 
Hydronic heating, electrical heating, and ventilation319.6 — 319.6 
Underground locators, inspection and rehabilitation
 equipment, and robotic systems		— 128.5 128.5 
Communication technologies, aids to navigation, and transportation systems— 242.7 242.7 
$874.6 $371.2 $1,245.8 
Timing of Revenue Recognition
Revenues recognized at a point in time$772.3 $293.7 $1,066.0 
Revenues recognized over time102.3 77.5 179.8 
$874.6 $371.2 $1,245.8 
Three months ended June 28, 2025
Reportable SegmentsHVACDetection and MeasurementTotal
Major product lines
Package and process cooling equipment and services, and engineered air movement and handling solutions$238.8 $— $238.8 
Hydronic heating, electrical heating, and ventilation137.9 — 137.9 
Underground locators, inspection and rehabilitation
 equipment, and robotic systems		— 69.5 69.5 
Communication technologies, aids to navigation, and transportation systems— 106.2 106.2 
$376.7 $175.7 $552.4 
Timing of Revenue Recognition
Revenues recognized at a point in time$345.4 $151.9 $497.3 
Revenues recognized over time31.3 23.8 55.1 
$376.7 $175.7 $552.4 

Six months ended June 28, 2025
Reportable SegmentsHVACDetection and MeasurementTotal
Major product lines
Package and process cooling equipment and services, and engineered air movement and handling solutions$437.9 $— $437.9 
Hydronic heating, electrical heating, and ventilation261.8 — 261.8 
Underground locators, inspection and rehabilitation
 equipment, and robotic systems		— 126.2 126.2 
Communication technologies, aids to navigation, and transportation systems— 209.1 209.1 
$699.7 $335.3 $1,035.0 
Timing of Revenue Recognition
Revenues recognized at a point in time$649.5 $293.4 $942.9 
Revenues recognized over time50.2 41.9 92.1 
$699.7 $335.3 $1,035.0 

Contract Balances

Our customers are invoiced for products and services at the time of delivery or based on contractual milestones, resulting in outstanding receivables with payment terms from these customers (“Contract Accounts Receivable”). In some cases, the timing of revenue recognition, particularly for revenue recognized over time, differs from when such amounts are invoiced to customers, resulting in a contract asset (revenue recognition precedes the invoicing of the related revenue amount) or a contract liability (payment from the customer precedes recognition of the related revenue amount). Contract assets and liabilities are generally classified as current. On a contract-by-contract basis, the contract assets and contract liabilities are reported net within our condensed consolidated balance sheets.

Project volumes, primarily within our communications technologies, aids to navigation, cooling equipment, and transportation systems businesses, can vary from period to period based on the timing of project execution.

Our contract balances consisted of the following as of June 27, 2026 and December 31, 2025:

Contract BalancesJune 27, 2026December 31, 2025Change
Contract Accounts Receivable(1)
$426.2 $346.9 $79.3 
Contract Assets78.1 65.0 13.1 
Contract Liabilities - current(128.2)(115.8)(12.4)
Contract Liabilities - non-current(2)
(6.0)(3.6)(2.4)
Net contract balance$370.1 $292.5 $77.6 
___________________________
(1)Included in “Accounts receivable, net” within the accompanying condensed consolidated balance sheets.
(2)Included in “Other long-term liabilities” within the accompanying condensed consolidated balance sheets.
Our contract balances consisted of the following as of June 28, 2025 and December 31, 2024:
Contract BalancesJune 28, 2025December 31, 2024Change
Contract Accounts Receivable$355.5 $305.4 $50.1 
Contract Assets42.0 11.3 30.7 
Contract Liabilities - current(76.5)(62.3)(14.2)
Contract Liabilities - non-current(3.5)(4.0)0.5 
Net contract balance$317.5 $250.4 $67.1 
The timing of revenue recognition, invoicing and cash collections results in Contract Accounts Receivable, contract assets, and customer advances and deposits (contract liabilities) on our condensed consolidated balance sheets. In general, we receive payments from customers based on a billing schedule established in our contracts. During the six months ended June 27, 2026, changes in contract balances were also impacted by the acquisitions of Thermolec and Crawford. At June 27, 2026, Contract Account Receivables, contract assets, and current contract liabilities attributable to Crawford were $13.9, $5.8, and $4.8, respectively. At June 27, 2026, Contract Account Receivables attributable to Thermolec were $3.9.
During the three and six months ended June 27, 2026, we recognized revenues of $13.5 and $50.6, respectively, related to our contract liabilities at December 31, 2025. During the three and six months ended June 28, 2025, we recognized revenues of $10.3 and $39.0, respectively, related to our contract liabilities at December 31, 2024.
Performance Obligations

As of June 27, 2026, the aggregate amount allocated to remaining performance obligations was $175.2. We expect to recognize revenue on approximately 56% and 75% of remaining performance obligations over the next 12 and 24 months, respectively, with the remaining recognized thereafter.