0000029905-22-000016 | 10-Q | XBRL Viewer

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Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2022	Apr. 14, 2022
Cover [Abstract]
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-4018
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	53-0257888
Entity Address, Address Line One	3005 Highland Parkway
Entity Address, City or Town	Downers Grove,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60515
City Area Code	(630)
Local Phone Number	541-1540
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		144,163,424
Entity Registrant Name	DOVER Corp
Entity Central Index Key	0000029905
Current Fiscal Year End Date	--12-31
Entity Small Business	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Information [Line Items]
Document Type	10-Q
Common stock $1 par value
Cover [Abstract]
Title of 12(b) Security	Common Stock
Trading Symbol	DOV
Security Exchange Name	NYSE
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	DOV
Security Exchange Name	NYSE
1.250 Notes Due 2026 [Member]
Cover [Abstract]
Title of 12(b) Security	1.250% Notes due 2026
Trading Symbol	DOV 26
Security Exchange Name	NYSE
Document Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2026
Trading Symbol	DOV 26
Security Exchange Name	NYSE
0.750 Notes due 2027 [Member]
Cover [Abstract]
Title of 12(b) Security	0.750% Notes due 2027
Trading Symbol	DOV 27
Security Exchange Name	NYSE
Document Information [Line Items]
Title of 12(b) Security	0.750% Notes due 2027
Trading Symbol	DOV 27
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 2,051,901	$ 1,867,901
Cost of goods and services	1,308,707	1,146,353
Gross profit	743,194	721,548
Selling, general and administrative expenses	443,843	408,998
Operating earnings	299,351	312,550
Interest expense	26,552	26,823
Interest income	(775)	(680)
Other income, net	(2,129)	(2,843)
Earnings before provision for income taxes	275,703	289,250
Provision for income taxes	49,550	56,481
Net earnings	$ 226,153	$ 232,769
Net earnings per share:
Net earnings (in dollars per basic share)	$ 1.57	$ 1.62
Net earnings (in dollars per diluted share)	$ 1.56	$ 1.61
Weighted average shares outstanding:
Weighted average shares outstanding - basic	144,087,000	143,765,000
Weighted average shares outstanding - diluted	145,329,000	144,938,000

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 226,153	$ 232,769
Foreign currency translation adjustments:
Foreign currency translation losses	(21,653)	(12,971)
Reclassification of foreign currency translation losses to earnings	5,915	0
Total foreign currency translation adjustments (net of $(8,431) and $(10,492) tax provision, respectively)	(15,738)	(12,971)
Pension and other post-retirement benefit plans:
Amortization of actuarial losses included in net periodic pension cost	360	2,374
Amortization of prior service costs included in net periodic pension cost	221	208
Total pension and other post-retirement benefit plans (net of $(208) and $(773) tax provision, respectively)	581	2,582
Changes in fair value of cash flow hedges:
Unrealized net gains arising during period	1,964	4,324
Net gains reclassified into earnings	(1,576)	(1,411)
Total cash flow hedges (net of $(112) and $(871) tax provision, respectively)	388	2,913
Other comprehensive (loss) earnings, net of tax	(14,769)	(7,476)
Comprehensive earnings	$ 211,384	$ 225,293

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 289,984	$ 385,504
Receivables, net	1,446,670	1,347,514
Inventories, net	1,322,347	1,191,095
Prepaid and other current assets	173,483	137,596
Total current assets	3,232,484	3,061,709
Property, plant and equipment, net	960,130	957,310
Goodwill	4,526,137	4,558,822
Intangible assets, net	1,311,688	1,359,522
Other assets and deferred charges	470,608	466,264
Total assets	10,501,047	10,403,627
Current liabilities:
Notes payable	113,480	105,702
Accounts payable	1,136,553	1,073,568
Accrued compensation and employee benefits	203,416	302,978
Deferred revenue	245,274	227,549
Accrued insurance	101,157	101,448
Other accrued expenses	328,992	347,097
Federal and other income taxes	118,050	91,999
Total current liabilities	2,246,922	2,250,341
Long-term debt	2,981,922	3,018,714
Deferred income taxes	369,107	364,117
Noncurrent income tax payable	48,376	48,385
Other liabilities	524,944	532,542
Stockholders' equity:
Total stockholders' equity	4,329,776	4,189,528
Total liabilities and stockholders' equity	$ 10,501,047	$ 10,403,627

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common stock $1 par value	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock
Balance at Dec. 31, 2020	$ 3,385,773	$ 258,982	$ 868,882	$ 8,608,284	$ (153,254)	$ (6,197,121)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	232,769			232,769
Dividends paid	(71,344)			(71,344)
Common stock issued for the exercise of share-based awards	(30,453)	356	(30,809)
Stock-based compensation expense	11,521		11,521
Common stock acquired	(21,637)					(21,637)
Other comprehensive loss, net of tax	(7,476)				(7,476)
Other, net	(9)		(9)
Balance at Mar. 31, 2021	3,499,144	259,338	849,585	8,769,709	(160,730)	(6,218,758)
Balance at Dec. 31, 2021	4,189,528	259,457	857,636	9,445,245	(154,052)	(6,218,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	226,153			226,153
Dividends paid	(72,203)			(72,203)
Common stock issued for the exercise of share-based awards	(10,046)	116	(10,162)
Stock-based compensation expense	11,113		11,113
Other comprehensive loss, net of tax	(14,769)				(14,769)
Balance at Mar. 31, 2022	$ 4,329,776	$ 259,573	$ 858,587	$ 9,599,195	$ (168,821)	$ (6,218,758)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends paid per common share (in dollars per share)	$ 0.50	$ 0.495

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Net earnings	$ 226,153	$ 232,769
Adjustments to reconcile net earnings to cash from operating activities:
Depreciation and amortization	79,003	73,806
Stock-based compensation expense	11,113	11,521
Reclassification of foreign currency translation losses to earnings	5,915	0
Other, net	(5,593)	(9,031)
Cash effect of changes in assets and liabilities:
Accounts receivable, net	(97,220)	(116,320)
Inventories	(136,722)	(75,421)
Prepaid expenses and other assets	(23,524)	(22,005)
Accounts payable	58,484	63,766
Accrued compensation and employee benefits	(98,602)	(34,894)
Accrued expenses and other liabilities	(1,463)	22,945
Accrued and deferred taxes, net	6,139	30,048
Net cash provided by operating activities	23,683	177,184
Investing Activities:
Additions to property, plant and equipment	(50,381)	(31,260)
Proceeds from sale of property, plant and equipment	3,177	5,845
Other	241	(4,157)
Net cash used in investing activities	(46,963)	(29,572)
Financing Activities:
Repurchase of common stock	0	(21,637)
Borrowings in commercial paper and notes payable, net	7,778	0
Dividends paid to stockholders	(72,203)	(71,344)
Payments to settle employee tax obligations on exercise of share-based awards	(10,046)	(30,453)
Other	(733)	(805)
Net cash used in financing activities	(75,204)	(124,239)
Effect of exchange rate changes on cash and cash equivalents	2,964	64
Net (decrease) increase in cash and cash equivalents	(95,520)	23,437
Cash and cash equivalents at beginning of period	385,504	513,075
Cash and cash equivalents at end of period	$ 289,984	$ 536,512

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax benefit (provision)	$ (8,431)	$ (10,492)
Pension and other postretirement benefit plans tax (provision) benefit	(208)	(773)
Cash flow hedges tax benefit (provision)	$ (112)	$ (871)

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for interim periods and do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements. These unaudited interim Condensed Consolidated Financial Statements should therefore be read in conjunction with the Consolidated Financial Statements and Notes for Dover Corporation ("Dover" or the "Company") for the year ended December 31, 2021, included in the Company's Annual Report on Form 10-K filed with the SEC on February 11, 2022. The year-end Condensed Consolidated Balance Sheet was derived from audited financial statements. The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future, actual results may differ from those estimates. The Condensed Consolidated Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair statement of results for these interim periods. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year.

Revenue

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

2. Revenue

A majority of the Company’s revenue is short cycle in nature with shipments within one year from order. A small portion of the Company’s revenue derives from contracts extending over one year. The Company's payment terms generally range between 30 to 90 days and vary by the location of businesses, the type of products manufactured to be sold and the volume of products sold, among other factors.

Over 95% of the Company’s revenue is recognized at a point in time rather than over time as the Company completes its performance obligations. Specifically, revenue is recognized when control transfers to the customer, typically upon shipment or completion of installation, testing, certification, or other substantive acceptance provisions required under the contract. Less than 5% of the Company’s revenue is recognized over time and relates to the sale of equipment or services in which the Company transfers control of a good or service over time and the customer simultaneously receives and consumes the benefits provided by the Company's performance as the Company performs, or our performance creates or enhances an asset the customer controls as the asset is created or enhanced, or our performance does not create an asset with an alternative use to the Company and the Company has an enforceable right to payment for its performance to date plus a reasonable margin.

Revenue from contracts with customers is disaggregated by segment and geographic location, as they best depict the nature and amount of the Company’s revenue. See Note 16 — Segment Information for further details for revenue by segment and geographic location.

At March 31, 2022, we estimated that $303 million in revenue is expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. We expect to recognize approximately 80% of our unsatisfied (or partially unsatisfied) performance obligations as revenue through 2023, with the remaining balance to be recognized in 2024 and thereafter.

The following table provides information about contract assets and contract liabilities from contracts with customers:


	March 31, 2022		December 31, 2021		December 31, 2020

Contract assets	$	14,359	$	11,440	$	15,020
Contract liabilities - current	245,274		227,549		184,845
Contract liabilities - non-current	27,985		21,513		13,921

The revenue recognized during the three months ended March 31, 2022 and 2021 that was included in contract liabilities at the beginning of the period, inclusive of adjustments, amounted to $104,008 and $104,617, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Name Accounting Standards Codification
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+ Details

Acquisitions

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

3. Acquisitions

2022 Acquisitions

There were no acquisitions during the three months ended March 31, 2022.

2021 Acquisitions

There were no acquisitions during the three months ended March 31, 2021.

RegO

On December 28, 2021, the Company acquired 100% of the voting stock of ECI Holding Company, LLC ("RegO"), a provider of highly-engineered components and services that facilitate the production, storage, and distribution of cryogenic gases, for $624,693, net of cash acquired and inclusive of the impact of measurement period adjustments discussed below. In connection with this acquisition, the Company recorded goodwill of $154,445 deductible for income tax purposes and $118,075 non-deductible for income tax purposes. The Company also recorded intangible assets of $173,000 for customer intangibles, $40,000 for patents, and $21,000 for trademarks. The fair value of customer intangibles at the acquisition date was determined using the multi-period excess earnings method under the income approach. The fair value measurements of intangible assets are based on significant unobservable inputs and thus represent Level 3 inputs. Significant assumptions used in assessing the fair values of intangible assets include discounted future cash flows, customer attrition rates and discount rates. The fair value of assets acquired also includes trade receivables of $34,283. The gross amount is $34,612, of which $329 is expected to be uncollectible. The fair values of the assets acquired and liabilities assumed, and the related tax balances, are based on preliminary estimates and assumptions. These preliminary estimates and assumptions could change during the measurement period as the Company finalizes the valuations of the assets acquired and liabilities assumed, and the related tax balances. During the three months ended March 31, 2022, the Company recorded measurement period adjustments primarily related to its preliminary estimates of deferred taxes and property, plant and equipment. These adjustments are based on facts and circumstances that existed as of the acquisition date which resulted in a decrease in goodwill of $4,456.

The following presents the updated preliminary allocation of purchase price, net of cash acquired of $10,382, to the assets acquired and liabilities assumed under the RegO acquisition, based on their estimated fair values at their acquisition dates:


	Total
Accounts receivable	$	34,283
Inventories	77,775
Other current assets	2,958
Property, plant and equipment	52,873
Goodwill	272,520
Intangible assets	234,000
Other assets and deferred charges	884
Current liabilities	(20,152)
Non-current liabilities	(30,448)
Net assets acquired	$	624,693

The amounts assigned to goodwill and major intangible asset classifications were as follows:


	Amount allocated		Useful life (in years)
Goodwill - tax deductible	$	154,445	na
Goodwill - non-deductible	118,075		na
Customer intangibles	173,000		15
Patents	40,000		12

Trademarks	21,000		16

	$	506,520

Acme Cryogenics

On December 16, 2021, the Company acquired 100% of the voting stock of Acme Cryo Intermediate Inc. ("Acme Cryogenics"), a provider of highly-engineered components and services that facilitate the production, storage, and distribution of cryogenic gases, for $292,285, net of cash acquired and inclusive of the impact of measurement period adjustments discussed below. In connection with this acquisition, the Company recorded goodwill of $167,269 non-deductible for income tax purposes. The Company also recorded intangible assets of $99,000 for customer intangibles, $21,800 for unpatented technology and $6,500 for trademarks. The fair value of customer intangibles at the acquisition date was determined using the multi-period excess earnings method under the income approach. The fair value measurements of intangible assets are based on significant unobservable inputs and thus represent Level 3 inputs. Significant assumptions used in assessing the fair values of intangible assets include discounted future cash flows, customer attrition rates and discount rates. The fair value of assets acquired also includes trade receivables of $14,677. The gross amount is $14,912, of which $235 is expected to be uncollectible. The fair values of the assets acquired and liabilities assumed, and the related tax balances, are based on preliminary estimates and assumptions. These preliminary estimates and assumptions could change during the measurement period as the Company finalizes the valuations of the assets acquired and liabilities assumed, and the related tax balances. During the three months ended March 31, 2022, the Company recorded measurement period adjustments primarily related to changes in net working capital. These adjustments are based on facts and circumstances that existed as of the acquisition date which resulted in a decrease in goodwill of $1,940.

The following presents the updated preliminary allocation of purchase price to the assets acquired and liabilities assumed under the Acme Cryogenics acquisition, based on their estimated fair values at acquisition date:


	Total
Current assets, net of cash acquired	$	30,184
Property, plant and equipment	8,640
Goodwill	167,269
Intangible assets	127,300
Other assets and deferred charges	5,057
Current liabilities	(9,085)
Non-current liabilities	(37,080)
Net assets acquired	$	292,285

The amounts assigned to goodwill and major intangible asset classifications were as follows:


	Amount allocated		Useful life (in years)

Goodwill - non-deductible	$	167,269	na
Customer intangibles	99,000		15

Unpatented technologies	21,800		12
Trademarks	6,500		16

	$	294,569

Inventories, net

3 Months Ended

Mar. 31, 2022

Inventory, Net [Abstract]

Inventories, net

4. Inventories, net


	March 31, 2022		December 31, 2021
Raw materials	$	750,559	$	671,195
Work in progress	291,601		271,659
Finished goods	413,721		377,800
Subtotal	1,455,881		1,320,654
Less reserves	(133,534)		(129,559)
Total	$	1,322,347	$	1,191,095

Property, Plant and Equipment, net

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

5. Property, Plant and Equipment, net


	March 31, 2022		December 31, 2021
Land	$	64,746	$	63,656
Buildings and improvements	586,083		582,314
Machinery, equipment and other	1,829,690		1,816,473
Property, plant and equipment, gross	2,480,519		2,462,443
Accumulated depreciation	(1,520,389)		(1,505,133)
Property, plant and equipment, net	$	960,130	$	957,310

Depreciation expense totaled $37,812 and $38,194 for the three months ended March 31, 2022 and 2021, respectively.

Credit Losses

3 Months Ended

Mar. 31, 2022

Credit Loss [Abstract]

Credit Losses

6. Credit Losses

The Company is exposed to credit losses primarily through sales of products and services. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on the aging of the accounts receivable balances and other historical and forward-looking information on the financial condition of customers. Balances are written off when determined to be uncollectible.

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected.


	2022		2021
Beginning Balance, December 31 of the Prior Year	$	40,126	$	40,474

Provision for expected credit losses, net of recoveries	1,185		112
Amounts written off charged against the allowance	(603)		(973)
Other, including foreign currency translation	(387)		28
Ending balance, March 31	$	40,321	$	39,641

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

7. Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill by reportable operating segments were as follows:


	Engineered Products		Clean Energy & Fueling		Imaging & Identification		Pumps & Process Solutions		Climate & Sustainability Technologies		Total
Balance at December 31, 2021	$	723,283	$	1,427,691	$	1,106,202	$	792,839	$	508,807	$	4,558,822

Measurement period adjustments	—		(6,233)		—		—		—		(6,233)

Foreign currency translation	(3,821)		(6,243)		(11,741)		(4,141)		(506)		(26,452)
Balance at March 31, 2022	$	719,462	$	1,415,215	$	1,094,461	$	788,698	$	508,301	$	4,526,137

During the three months ended March 31, 2022, the Company recorded measurement period adjustments that reduced goodwill by $6,233, principally related to deferred taxes, working capital adjustments, and property, plant and equipment for 2021 acquisitions within the Clean Energy & Fueling segment.

The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:


	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Customer intangibles	$	1,817,332	$	930,841	$	886,491	$	1,829,492	$	909,776	$	919,716
Trademarks	261,857		121,672		140,185		263,367		116,633		146,734
Patents	205,312		140,374		64,938		205,910		140,327		65,583
Unpatented technologies	219,562		126,163		93,399		221,239		123,464		97,775
Distributor relationships	82,745		55,706		27,039		84,204		55,260		28,944
Drawings and manuals	26,816		26,816		—		27,792		27,303		489
Other	21,316		18,355		2,961		22,347		18,775		3,572
Total	2,634,940		1,419,927		1,215,013		2,654,351		1,391,538		1,262,813
Unamortized intangible assets:
Trademarks	96,675		—		96,675		96,709		—		96,709
Total intangible assets, net	$	2,731,615	$	1,419,927	$	1,311,688	$	2,751,060	$	1,391,538	$	1,359,522

For the three months ended March 31, 2022 and 2021, amortization expense was $41,191 and $35,612, respectively, including acquisition-related intangible amortization of $40,799 and $35,173, respectively.

Restructuring Activities

3 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring Activities

8. Restructuring Activities

The Company's restructuring charges by segment were as follows:


	Three Months Ended March 31,
		2022		2021
Engineered Products		$	457	$	3,991
Clean Energy & Fueling		196		49
Imaging & Identification		1,191		690
Pumps & Process Solutions		685		(17)
Climate & Sustainability Technologies		5,716		1,061
Corporate		(88)		661
Total		$	8,157	$	6,435

These amounts are classified in the Condensed Consolidated Statements of Earnings as follows:
Cost of goods and services		$	207	$	3,907
Selling, general and administrative expenses		7,950		2,528
Total		$	8,157	$	6,435

The restructuring expenses of $8,157 incurred during the three months ended March 31, 2022 were primarily the result of restructuring programs initiated in 2021 in response to demand conditions and broad-based operational efficiency initiatives focusing on footprint consolidation and IT centralization.

The $8,157 of restructuring charges incurred during the first quarter of 2022 primarily included the following items:

•The Engineered Products segment recorded $457 of restructuring charges related primarily to headcount reduction.

•The Clean Energy & Fueling segment recorded $196 of restructuring charges primarily due to headcount reductions.

•The Imaging & Identification segment recorded $1,191 of restructuring charges related primarily to exit costs and asset charges.

•The Pumps & Process Solutions segment recorded $685 of restructuring charges related primarily to headcount reductions and asset charges.

•The Climate & Sustainability Technologies segment recorded $5,716 of restructuring charges related primarily to non-cash foreign currency translation losses due to the substantial liquidation of businesses in certain Latin America countries.

The Company’s severance and exit accrual activities were as follows:


	Severance		Exit			Total
Balance at December 31, 2021	$	10,730	$	3,067		$	13,797
Restructuring charges	778		7,379		(1)	8,157
Payments	(3,132)		(795)			(3,927)


Other, including foreign currency translation	(114)		(6,703)		(1)	(6,817)
Balance at March 31, 2022	$	8,262	$	2,948		$	11,210

(1) Other activity includes non-cash foreign currency translation losses recorded as restructuring charges due to the substantial liquidation of businesses in certain Latin America countries.

Borrowings

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Borrowings

9. Borrowings

Borrowings consisted of the following:


	March 31, 2022		December 31, 2021
Short-term:
Short-term borrowings	$	680	$	702
Commercial paper	112,800		105,000
Notes payable	$	113,480	$	105,702


			Carrying amount (1)
	Principal		March 31, 2022		December 31, 2021
Long-term
3.15% 10-year notes due November 15, 2025	$	400,000	$	397,558	$	397,389
1.25% 10-year notes due November 9, 2026 (euro-denominated)	€	600,000	653,913		674,217
0.750% 8-year notes due November 4, 2027 (euro denominated)	€	500,000	544,357		561,293
6.65% 30-year debentures due June 1, 2028	$	200,000	199,381		199,356
2.950% 10-year notes due November 4, 2029	$	300,000	297,123		297,029
5.375% 30-year debentures due October 15, 2035	$	300,000	296,621		296,559
6.60% 30-year notes due March 15, 2038	$	250,000	248,194		248,166
5.375% 30-year notes due March 1, 2041	$	350,000	344,775		344,705



Total long-term debt			$	2,981,922	$	3,018,714

(1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were

$14.4 million and $15.1 million as of March 31, 2022 and December 31, 2021, respectively. Total deferred debt issuance costs were $12.1 million and $12.5 million as of March 31, 2022 and December 31, 2021, respectively.

As of March 31, 2022, the Company maintained a $1.0 billion five-year unsecured revolving credit facility (the "Credit Agreement") with a syndicate of banks which expires on October 4, 2024. The Company uses the Credit Agreement principally as liquidity back-up for its commercial paper program and for general corporate purposes. At the Company's election, loans under the Credit Agreement will bear interest at a base rate plus an applicable margin. The Credit Agreement requires the Company to pay a facility fee and imposes various restrictions on the Company such as, among other things, a requirement to maintain a minimum interest coverage ratio of consolidated EBITDA to consolidated net interest expense of not less than 3.0 to 1. As of March 31, 2022 and December 31, 2021, there were no borrowings under the Credit Agreement.

The Company was in compliance with all covenants in the Credit Agreement and other long-term debt covenants at March 31, 2022 and had an interest coverage ratio of consolidated EBITDA to consolidated net interest expense of 17.7 to 1.

Letters of Credit and other Guarantees

As of March 31, 2022, the Company had approximately $149.7 million outstanding in letters of credit, surety bonds, and performance and other guarantees which expire on various dates through 2029. These letters of credit and bonds are primarily issued as security for insurance, warranty and other performance obligations. In general, we would only be liable for the amount of these guarantees in the event of default in the performance of our obligations.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Financial Instruments

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

10. Financial Instruments

Derivatives

The Company is exposed to market risk for changes in foreign currency exchange rates due to the global nature of its operations and certain commodity risks. In order to manage these risks, the Company has hedged portions of its forecasted sales and purchases to occur within the next twelve months that are denominated in non-functional currencies, with currency forward contracts designated as cash flow hedges. At March 31, 2022 and December 31, 2021, the Company had contracts with total notional amounts of $169,157 and $180,929, respectively, to exchange currencies, principally euro, pound sterling, Swedish krona, Canadian dollar, Chinese yuan, and Swiss franc. The Company believes it is probable that all forecasted cash flow transactions will occur.

In addition, the Company had outstanding contracts with a total notional amount of $97,921 and $108,736 as of March 31, 2022 and December 31, 2021, respectively, that are not designated as hedging instruments. These instruments are used to reduce the Company's exposure for operating receivables and payables that are denominated in non-functional currencies. Gains and losses on these contracts are recorded in other income, net in the Condensed Consolidated Statements of Earnings.

The following table sets forth the fair values of derivative instruments held by the Company as of March 31, 2022 and December 31, 2021 and the balance sheet lines in which they are recorded:


	Fair Value Asset (Liability)
	March 31, 2022		December 31, 2021		Balance Sheet Caption
Foreign currency forward	$	3,822	$	2,825	Prepaid and other current assets
Foreign currency forward	(229)		(433)		Other accrued expenses

For a cash flow hedge, the change in estimated fair value of a hedging instrument is recorded in accumulated other comprehensive (loss) earnings as a separate component of the Condensed Consolidated Statements of Stockholders' Equity and is reclassified into revenues and cost of goods and services in the Condensed Consolidated Statements of Earnings during the period in which the hedged transaction is settled. The amount of gains or losses from hedging activity recorded in earnings is not significant, and the amount of unrealized gains and losses from cash flow hedges that are expected to be reclassified to earnings in the next twelve months is not significant; therefore, additional tabular disclosures are not presented. There are no amounts excluded from the assessment of hedge effectiveness, and the Company's derivative instruments that are subject to credit risk contingent features were not significant.

The Company is exposed to credit loss in the event of nonperformance by counterparties to the financial instrument contracts held by the Company; however, nonperformance by these counterparties is considered unlikely as the Company’s policy is to contract with highly-rated, diversified counterparties.

The Company has designated the €500,000 and €600,000 of euro-denominated notes issued November 4, 2019 and November 9, 2016, respectively, as hedges of a portion of its net investment in euro-denominated operations. Changes in the value of the euro-denominated debt are recognized in foreign currency translation adjustments within other comprehensive earnings of the Condensed Consolidated Statements of Comprehensive Earnings to offset changes in the value of the net investment in euro-denominated operations.

Amounts recognized in other comprehensive earnings for the gains (losses) on net investment hedges were as follows:


	Three Months Ended March 31,
		2022		2021
Gain on euro-denominated debt		$	37,748	$	46,433
Tax expense		(8,431)		(10,492)
Net gain on net investment hedges, net of tax		$	29,317	$	35,941

Fair Value Measurements

ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value.

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 inputs include inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities.

Level 3 inputs are unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021:


	March 31, 2022		December 31, 2021
	Level 2			Level 2
Assets:
Foreign currency cash flow hedges	$	3,822		$	2,825
Liabilities:
Foreign currency cash flow hedges	229			433

The estimated fair value of long-term debt at March 31, 2022 and December 31, 2021, was $3,167,903 and $3,440,501, respectively. The estimated fair value of long-term debt is based on quoted market prices for similar instruments and is, therefore, classified as Level 2 within the fair value hierarchy.

The carrying values of cash and cash equivalents, trade receivables, accounts payable and notes payable are reasonable estimates of their fair values as of March 31, 2022 and December 31, 2021 due to the short-term nature of these instruments.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The effective tax rates for the three months ended March 31, 2022 and 2021 were 18.0% and 19.5%, respectively. The decrease in the effective tax rate for the three months ended March 31, 2022 relative to the prior year comparable period was primarily driven by favorable audit resolutions. Dover and its subsidiaries file tax returns in the U.S., including various state and local returns, and in other foreign jurisdictions. We believe adequate provision has been made for all income tax uncertainties. The Company is routinely audited by taxing authorities in its filing jurisdictions, and a number of these audits are currently underway. The Company believes that within the next twelve months uncertain tax positions may be resolved and statutes of limitations will expire, which could result in a decrease in the gross amount of unrecognized tax benefits of approximately zero to $30.6 million.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Equity Incentive Program

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement, Noncash Expense [Abstract]

Equity Incentive Program

12. Equity Incentive Program

The Company typically makes its annual grants of equity awards pursuant to actions taken by the Compensation Committee of the Board of Directors at its regularly scheduled first quarter meeting. During the three months ended March 31, 2022, the Company issued stock-settled appreciation rights ("SARs") covering 327,940 shares, performance share awards of 40,087 and restricted stock units ("RSUs") of 71,961.

The Company uses the Black-Scholes option pricing model to determine the fair value of each SAR on the date of grant. Expected volatilities are based on Dover's stock price history, including implied volatilities from traded options on Dover stock. The Company uses historical data to estimate SAR exercise and employee termination patterns within the valuation model. The expected life of SARs granted is derived from the output of the option valuation model and represents the average period of time that SARs granted are expected to be outstanding. The interest rate for periods within the contractual life of the SARs is based on the U.S. Treasury yield curve in effect at the time of grant.

The assumptions used in determining the fair value of the SARs awarded during the respective periods were as follows:


	SARs
	2022		2021
Risk-free interest rate	1.86	%	0.59	%
Dividend yield	1.25	%	1.62	%
Expected life (years)	5.4		5.5
Volatility	29.46	%	30.49	%

Grant price	$160.21		$122.73
Fair value per share at date of grant	$42.07		$29.08

The performance share awards granted in 2022 and 2021 are market condition awards as attainment is based on Dover's performance relative to its peer group (companies listed under the S&P 500 Industrials sector) for the relevant performance period. The performance period and vesting period for these awards is three years. These awards were valued on the date of grant using the Monte Carlo simulation model (a binomial lattice-based valuation model) and are generally recognized ratably over the vesting period, and the fair value is not subject to change based on future market conditions. The assumptions used in determining the fair value of the performance shares granted in the respective periods were as follows:


	Performance Shares
	2022		2021
Risk-free interest rate	1.68	%	0.19	%
Dividend yield	1.25	%	1.62	%
Expected life (years)	2.9		2.9
Volatility	31.10	%	31.90	%

Grant price	$160.21		$122.73
Fair value per share at date of grant	$196.40		$148.29

The Company also has granted RSUs, and the fair value of these awards was determined using Dover's closing stock price on the date of grant.

Stock-based compensation is reported within selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:


	Three Months Ended March 31,
		2022		2021
Pre-tax stock-based compensation expense		$	11,113	$	11,521
Tax benefit		(1,115)		(1,222)
Total stock-based compensation expense, net of tax		$	9,998	$	10,299

Commitments and Contingent Liabilities

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

13. Commitments and Contingent Liabilities

Litigation

Certain of the Company’s subsidiaries are involved in legal proceedings relating to the cleanup of waste disposal sites identified under federal and state statutes that provide for the allocation of such costs among "potentially responsible parties." In each instance, the extent of the Company’s liability appears to be very small in relation to the total projected expenditures and the number of other "potentially responsible parties" involved and is anticipated to be immaterial to the Company. In addition, certain of the Company’s subsidiaries are involved in ongoing remedial activities at certain current and former plant sites, in cooperation with regulatory agencies, and appropriate estimated liabilities have been established. At March 31, 2022 and December 31, 2021, these estimated liabilities for environmental and other matters, including private party claims for exposure to hazardous substances that are probable and estimable, were not significant.

The Company and certain of its subsidiaries are also parties to a number of other legal proceedings incidental to their businesses. These proceedings primarily involve claims by private parties alleging injury arising out of use of the Company’s products, patent infringement, employment matters, and commercial disputes. Management and legal counsel, at least quarterly, review the probable outcome of such proceedings, the costs and expenses reasonably expected to be incurred and currently accrued to-date, and the availability and extent of insurance coverage. The Company has estimated liabilities for legal matters that are probable and estimable, and at March 31, 2022 and December 31, 2021, these estimated liabilities were not significant. While it is not possible at this time to predict the outcome of these legal actions, in the opinion of management, based on the aforementioned reviews, the Company is not currently involved in any legal proceedings which, individually or in the aggregate, could have a material effect on its financial position, results of operations, or cash flows.

Warranty Accruals

Estimated warranty program claims are provided for at the time of sale of the Company's products. Amounts provided for are based on historical costs and adjusted for new claims and are included within other accrued expenses and other liabilities in the Condensed Consolidated Balance Sheet. The changes in the carrying amount of product warranties through March 31, 2022 and 2021, were as follows:


	2022		2021
Beginning Balance, December 31 of the Prior Year	$	48,568	$	51,088
Provision for warranties	16,052		18,897
Settlements made	(15,485)		(17,760)
Other adjustments, including acquisitions and currency translation	255		(839)
Ending balance, March 31	$	49,390	$	51,386

Employee Benefit Plans

3 Months Ended

Mar. 31, 2022

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Employee Benefit Plans

14. Employee Benefit Plans

Retirement Plans

The Company sponsors qualified defined benefit pension plans covering certain employees of the Company and its subsidiaries, although the U.S. qualified and non-qualified defined benefit plans are closed to new entrants. The plans’ benefits are generally based on years of service and employee compensation. The Company also provides to certain management employees, through non-qualified plans, supplemental retirement benefits in excess of qualified plan limits imposed by federal tax law.

The tables below set forth the components of the Company’s net periodic (income) expense relating to retirement benefit plans. The service cost component is recognized within selling, general and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans, and the non-operating components of pension costs are included within other income, net in the Condensed Consolidated Statements of Earnings.

Qualified Defined Benefits


	Three Months Ended March 31,
		U.S. Plan	Non-U.S. Plans
			2022		2021		2022		2021
Service cost			$	1,426	$	1,784	$	1,221	$	1,442
Interest cost			3,436		3,401		884		667
Expected return on plan assets			(7,276)		(7,245)		(1,891)		(1,799)
Amortization:
Prior service cost (credit)			27		53		(134)		(169)
Recognized actuarial loss			575		2,503		458		1,000



Net periodic (income) expense			$	(1,812)	$	496	$	538	$	1,141

Non-Qualified Supplemental Benefits


	Three Months Ended March 31,
		2022		2021
Service cost		$	356	$	390
Interest cost		304		308
Amortization:
Prior service cost		372		383
Recognized actuarial gain		(504)		(418)

Net periodic expense		$	528	$	663

Defined Contribution Retirement Plans

The Company also offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. The related expense is recognized within selling, general and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans. The Company’s expense relating to defined contribution plans was $17,673 and $15,061 for the three months ended March 31, 2022 and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Other Comprehensive Earnings

3 Months Ended

Mar. 31, 2022

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Other Comprehensive Earnings

15. Other Comprehensive Earnings

Amounts reclassified from accumulated other comprehensive loss to earnings during the three months ended March 31, 2022 and 2021 were as follows:


	Three Months Ended March 31,
		2022		2021
Foreign currency translation:
Reclassification of foreign currency translation losses to earnings for the substantial liquidation of businesses		$	5,915	$	—
Tax benefit		—		—
Net of tax		$	5,915	$	—
Pension plans:
Amortization of actuarial losses		$	521	$	3,085
Amortization of prior service costs		268		270

Total before tax		789		3,355
Tax benefit		(208)		(773)
Net of tax		$	581	$	2,582
Cash flow hedges:
Net gains reclassified into earnings		$	(2,029)	$	(1,833)
Tax provision		453		422
Net of tax		$	(1,576)	$	(1,411)

Foreign currency translation losses were recognized in selling, general and administrative expenses within the Condensed Consolidated Statement of Earnings as a result of the substantial liquidation of certain businesses.

The Company recognizes the amortization of net actuarial gains and losses and prior service costs in other income, net within the Condensed Consolidated Statements of Earnings.

Cash flow hedges consist mainly of foreign currency forward contracts. The Company recognizes the realized gains and losses on its cash flow hedges in the same line item as the hedged transaction, such as revenue, cost of goods and services, or selling, general and administrative expenses.

Segment Information

3 Months Ended

Mar. 31, 2022

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 for vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-markets.

•Clean Energy & Fueling segment provides components, equipment, and software and service solutions enabling safe transport of traditional and clean fuels and other hazardous substances along the supply chain, as well as the safe and efficient operation of convenience retail, retail fueling and vehicle wash establishments.

•Imaging & Identification segment supplies precision marking and coding, packaging intelligence, 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, fashion and apparel and other end-markets.

•Pumps & Process Solutions segment manufactures specialty pumps and flow meters, fluid connecting solutions, plastics and polymer processing equipment, and highly-engineered precision components for rotating and reciprocating machines serving single-use biopharmaceutical production, diversified industrial manufacturing, polymer processing, midstream and downstream oil and gas and other end-markets.

•Climate & Sustainability Technologies segment is a provider of innovative and energy-efficient equipment and systems that serve the commercial refrigeration, heating and cooling and beverage container-making equipment markets.

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


	Three Months Ended March 31,
		2022		2021
Revenue:
Engineered Products		$	487,647	$	428,127
Clean Energy & Fueling		458,395		389,678
Imaging & Identification		272,255		284,328
Pumps & Process Solutions		435,195		394,377
Climate & Sustainability Technologies		399,078		372,077
Intercompany eliminations		(669)		(686)
Total consolidated revenue		$	2,051,901	$	1,867,901
Net earnings:
Segment earnings (EBIT): (1)
Engineered Products		$	66,134	$	68,779
Clean Energy & Fueling		41,442		66,480
Imaging & Identification		51,529		56,992
Pumps & Process Solutions		139,340		123,645
Climate & Sustainability Technologies (2)		40,396		38,117
Total segment earnings (EBIT)		338,841		354,013
Corporate expense / other (3)		37,361		38,620
Interest expense		26,552		26,823
Interest income		(775)		(680)
Earnings before provision for income taxes		275,703		289,250
Provision for income taxes		49,550		56,481
Net earnings		$	226,153	$	232,769

(1) Segment earnings (EBIT) includes non-operating income and expense directly attributable to the segments.

(2) Q1 2022 includes $5,457 of non-cash foreign currency translation losses reclassified to earnings included within restructuring costs and a $2,117 write-off of assets related to an exit from certain Latin America countries.

(3) 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.

The following table presents revenue disaggregated by geography based on the location of the Company's customer:


	Three Months Ended March 31,
Revenue by geography		2022		2021
United States		$	1,151,500	$	1,036,014
Europe		447,565		445,295
Asia		229,386		192,107
Other Americas		151,592		130,177
Other		71,858		64,308
Total		$	2,051,901	$	1,867,901

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Share Repurchases	3 Months Ended
Share Repurchases	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Share Repurchases	17. Share Repurchases In November 2020, the Company's Board of Directors approved a new standing share repurchase authorization, whereby the Company may repurchase up to 20 million shares beginning on January 1, 2021 through December 31, 2023. This share repurchase authorization replaced the February 2018 share repurchase authorization. In the three months ended March 31, 2022, no shares were repurchased. During the three months ended March 31, 2021, the Company repurchased 182,951 shares of common stock at a total cost of $21,637, or $118.27 per share. As of March 31, 2022, 19,817,049 shares remain authorized for repurchase under the November 2020 share repurchase authorization.

Earnings per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

18. Earnings per Share

The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share:


	Three Months Ended March 31,
		2022		2021


Net earnings		$	226,153	$	232,769
Basic earnings per common share:


Net earnings		$	1.57	$	1.62

Weighted average shares outstanding		144,087,000		143,765,000
Diluted earnings per common share:


Net earnings		$	1.56	$	1.61

Weighted average shares outstanding		145,329,000		144,938,000

The following table is a reconciliation of the share amounts used in computing earnings per share:


	Three Months Ended March 31,
		2022	2021
Weighted average shares outstanding - Basic		144,087,000	143,765,000
Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs		1,242,000	1,173,000
Weighted average shares outstanding - Diluted		145,329,000	144,938,000

Diluted earnings per share amounts are computed using the weighted average number of common shares outstanding and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of SARs and vesting of performance shares and RSUs, as determined using the treasury stock method.

The weighted average number of anti-dilutive potential common shares excluded from the calculation above were approximately 58,000 and 88,000 for the three months ended March 31, 2022 and 2021, respectively.

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	19. Recent Accounting Pronouncements Recently Adopted Accounting Standards In October 2021, the FASB issued ASU 2021-08 Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. The Company early adopted the guidance during the first quarter of 2022. Prior to adoption, the acquirer recognized such contract assets and contract liabilities at fair value on the acquisition date. The adoption did not have a material impact on the Company's Condensed Consolidated Financial Statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	20. Subsequent Events On April 6, 2022, the Company completed the acquisition of certain intellectual property assets related to electric refuse collection vehicles for approximately $9.75 million, plus potential contingent consideration of up to $20 million. These assets will be included in the Engineered Products segment.

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In October 2021, the FASB issued ASU 2021-08 Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. The Company early adopted the guidance during the first quarter of 2022. Prior to adoption, the acquirer recognized such contract assets and contract liabilities at fair value on the acquisition date. The adoption did not have a material impact on the Company's Condensed Consolidated Financial Statements.

Revenue (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Summary of Contract Assets and Contracts Liabilities

The following table provides information about contract assets and contract liabilities from contracts with customers:


	March 31, 2022		December 31, 2021		December 31, 2020

Contract assets	$	14,359	$	11,440	$	15,020
Contract liabilities - current	245,274		227,549		184,845
Contract liabilities - non-current	27,985		21,513		13,921

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Preliminary Allocation of Purchase Price


	Total
Accounts receivable	$	34,283
Inventories	77,775
Other current assets	2,958
Property, plant and equipment	52,873
Goodwill	272,520
Intangible assets	234,000
Other assets and deferred charges	884
Current liabilities	(20,152)
Non-current liabilities	(30,448)
Net assets acquired	$	624,693


	Total
Current assets, net of cash acquired	$	30,184
Property, plant and equipment	8,640
Goodwill	167,269
Intangible assets	127,300
Other assets and deferred charges	5,057
Current liabilities	(9,085)
Non-current liabilities	(37,080)
Net assets acquired	$	292,285

Goodwill and Major Intangible Assets Acquired

The amounts assigned to goodwill and major intangible asset classifications were as follows:


	Amount allocated		Useful life (in years)
Goodwill - tax deductible	$	154,445	na
Goodwill - non-deductible	118,075		na
Customer intangibles	173,000		15
Patents	40,000		12

Trademarks	21,000		16

	$	506,520

The amounts assigned to goodwill and major intangible asset classifications were as follows:


	Amount allocated		Useful life (in years)

Goodwill - non-deductible	$	167,269	na
Customer intangibles	99,000		15

Unpatented technologies	21,800		12
Trademarks	6,500		16

	$	294,569

Inventories, net (Tables)

3 Months Ended

Mar. 31, 2022

Inventory, Net [Abstract]

Components of Inventory


	March 31, 2022		December 31, 2021
Raw materials	$	750,559	$	671,195
Work in progress	291,601		271,659
Finished goods	413,721		377,800
Subtotal	1,455,881		1,320,654
Less reserves	(133,534)		(129,559)
Total	$	1,322,347	$	1,191,095

Property, Plant and Equipment, net (Tables)

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Components of property, plant and equipment, net


	March 31, 2022		December 31, 2021
Land	$	64,746	$	63,656
Buildings and improvements	586,083		582,314
Machinery, equipment and other	1,829,690		1,816,473
Property, plant and equipment, gross	2,480,519		2,462,443
Accumulated depreciation	(1,520,389)		(1,505,133)
Property, plant and equipment, net	$	960,130	$	957,310

Credit Losses (Tables)

3 Months Ended

Mar. 31, 2022

Credit Loss [Abstract]

Rollforward of Allowance for Credit Losses


	2022		2021
Beginning Balance, December 31 of the Prior Year	$	40,126	$	40,474

Provision for expected credit losses, net of recoveries	1,185		112
Amounts written off charged against the allowance	(603)		(973)
Other, including foreign currency translation	(387)		28
Ending balance, March 31	$	40,321	$	39,641

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying value of goodwill by reportable operating segments were as follows:


	Engineered Products		Clean Energy & Fueling		Imaging & Identification		Pumps & Process Solutions		Climate & Sustainability Technologies		Total
Balance at December 31, 2021	$	723,283	$	1,427,691	$	1,106,202	$	792,839	$	508,807	$	4,558,822

Measurement period adjustments	—		(6,233)		—		—		—		(6,233)

Foreign currency translation	(3,821)		(6,243)		(11,741)		(4,141)		(506)		(26,452)
Balance at March 31, 2022	$	719,462	$	1,415,215	$	1,094,461	$	788,698	$	508,301	$	4,526,137

Schedule of Intangible Assets

The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:


	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Customer intangibles	$	1,817,332	$	930,841	$	886,491	$	1,829,492	$	909,776	$	919,716
Trademarks	261,857		121,672		140,185		263,367		116,633		146,734
Patents	205,312		140,374		64,938		205,910		140,327		65,583
Unpatented technologies	219,562		126,163		93,399		221,239		123,464		97,775
Distributor relationships	82,745		55,706		27,039		84,204		55,260		28,944
Drawings and manuals	26,816		26,816		—		27,792		27,303		489
Other	21,316		18,355		2,961		22,347		18,775		3,572
Total	2,634,940		1,419,927		1,215,013		2,654,351		1,391,538		1,262,813
Unamortized intangible assets:
Trademarks	96,675		—		96,675		96,709		—		96,709
Total intangible assets, net	$	2,731,615	$	1,419,927	$	1,311,688	$	2,751,060	$	1,391,538	$	1,359,522

Restructuring Activities (Tables)

3 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring Charges by Segment

The Company's restructuring charges by segment were as follows:


	Three Months Ended March 31,
		2022		2021
Engineered Products		$	457	$	3,991
Clean Energy & Fueling		196		49
Imaging & Identification		1,191		690
Pumps & Process Solutions		685		(17)
Climate & Sustainability Technologies		5,716		1,061
Corporate		(88)		661
Total		$	8,157	$	6,435

These amounts are classified in the Condensed Consolidated Statements of Earnings as follows:
Cost of goods and services		$	207	$	3,907
Selling, general and administrative expenses		7,950		2,528
Total		$	8,157	$	6,435

Severance and Exit Accrual Activities

The Company’s severance and exit accrual activities were as follows:


	Severance		Exit			Total
Balance at December 31, 2021	$	10,730	$	3,067		$	13,797
Restructuring charges	778		7,379		(1)	8,157
Payments	(3,132)		(795)			(3,927)


Other, including foreign currency translation	(114)		(6,703)		(1)	(6,817)
Balance at March 31, 2022	$	8,262	$	2,948		$	11,210

(1) Other activity includes non-cash foreign currency translation losses recorded as restructuring charges due to the substantial liquidation of businesses in certain Latin America countries.

Borrowings (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Short-term Debt

Borrowings consisted of the following:


	March 31, 2022		December 31, 2021
Short-term:
Short-term borrowings	$	680	$	702
Commercial paper	112,800		105,000
Notes payable	$	113,480	$	105,702

Long-term Debt


			Carrying amount (1)
	Principal		March 31, 2022		December 31, 2021
Long-term
3.15% 10-year notes due November 15, 2025	$	400,000	$	397,558	$	397,389
1.25% 10-year notes due November 9, 2026 (euro-denominated)	€	600,000	653,913		674,217
0.750% 8-year notes due November 4, 2027 (euro denominated)	€	500,000	544,357		561,293
6.65% 30-year debentures due June 1, 2028	$	200,000	199,381		199,356
2.950% 10-year notes due November 4, 2029	$	300,000	297,123		297,029
5.375% 30-year debentures due October 15, 2035	$	300,000	296,621		296,559
6.60% 30-year notes due March 15, 2038	$	250,000	248,194		248,166
5.375% 30-year notes due March 1, 2041	$	350,000	344,775		344,705



Total long-term debt			$	2,981,922	$	3,018,714

(1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments and the balance sheet lines in which they are recorded

The following table sets forth the fair values of derivative instruments held by the Company as of March 31, 2022 and December 31, 2021 and the balance sheet lines in which they are recorded:


	Fair Value Asset (Liability)
	March 31, 2022		December 31, 2021		Balance Sheet Caption
Foreign currency forward	$	3,822	$	2,825	Prepaid and other current assets
Foreign currency forward	(229)		(433)		Other accrued expenses

Schedule of net investment hedges in accumulated other comprehensive income (loss)

Amounts recognized in other comprehensive earnings for the gains (losses) on net investment hedges were as follows:


	Three Months Ended March 31,
		2022		2021
Gain on euro-denominated debt		$	37,748	$	46,433
Tax expense		(8,431)		(10,492)
Net gain on net investment hedges, net of tax		$	29,317	$	35,941

Assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021:


	March 31, 2022		December 31, 2021
	Level 2			Level 2
Assets:
Foreign currency cash flow hedges	$	3,822		$	2,825
Liabilities:
Foreign currency cash flow hedges	229			433

Equity Incentive Program (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement, Noncash Expense [Abstract]

Assumptions Used in Determining the Fair Value

The assumptions used in determining the fair value of the SARs awarded during the respective periods were as follows:


	SARs
	2022		2021
Risk-free interest rate	1.86	%	0.59	%
Dividend yield	1.25	%	1.62	%
Expected life (years)	5.4		5.5
Volatility	29.46	%	30.49	%

Grant price	$160.21		$122.73
Fair value per share at date of grant	$42.07		$29.08

The assumptions used in determining the fair value of the performance shares granted in the respective periods were as follows:


	Performance Shares
	2022		2021
Risk-free interest rate	1.68	%	0.19	%
Dividend yield	1.25	%	1.62	%
Expected life (years)	2.9		2.9
Volatility	31.10	%	31.90	%

Grant price	$160.21		$122.73
Fair value per share at date of grant	$196.40		$148.29

Stock-based Incentive Plans Compensation Expense


	Three Months Ended March 31,
		2022		2021
Pre-tax stock-based compensation expense		$	11,113	$	11,521
Tax benefit		(1,115)		(1,222)
Total stock-based compensation expense, net of tax		$	9,998	$	10,299

Commitments and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

The changes in the carrying amount of product warranties through March 31, 2022 and 2021, were as follows:


	2022		2021
Beginning Balance, December 31 of the Prior Year	$	48,568	$	51,088
Provision for warranties	16,052		18,897
Settlements made	(15,485)		(17,760)
Other adjustments, including acquisitions and currency translation	255		(839)
Ending balance, March 31	$	49,390	$	51,386

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2022

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Defined Benefit Plans

Qualified Defined Benefits


	Three Months Ended March 31,
		U.S. Plan	Non-U.S. Plans
			2022		2021		2022		2021
Service cost			$	1,426	$	1,784	$	1,221	$	1,442
Interest cost			3,436		3,401		884		667
Expected return on plan assets			(7,276)		(7,245)		(1,891)		(1,799)
Amortization:
Prior service cost (credit)			27		53		(134)		(169)
Recognized actuarial loss			575		2,503		458		1,000



Net periodic (income) expense			$	(1,812)	$	496	$	538	$	1,141

Non-Qualified Supplemental Benefits


	Three Months Ended March 31,
		2022		2021
Service cost		$	356	$	390
Interest cost		304		308
Amortization:
Prior service cost		372		383
Recognized actuarial gain		(504)		(418)

Net periodic expense		$	528	$	663

Other Comprehensive Earnings (Tables)

3 Months Ended

Mar. 31, 2022

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of amounts reclassified from accumulated other comprehensive income (loss) to earnings

Amounts reclassified from accumulated other comprehensive loss to earnings during the three months ended March 31, 2022 and 2021 were as follows:


	Three Months Ended March 31,
		2022		2021
Foreign currency translation:
Reclassification of foreign currency translation losses to earnings for the substantial liquidation of businesses		$	5,915	$	—
Tax benefit		—		—
Net of tax		$	5,915	$	—
Pension plans:
Amortization of actuarial losses		$	521	$	3,085
Amortization of prior service costs		268		270

Total before tax		789		3,355
Tax benefit		(208)		(773)
Net of tax		$	581	$	2,582
Cash flow hedges:
Net gains reclassified into earnings		$	(2,029)	$	(1,833)
Tax provision		453		422
Net of tax		$	(1,576)	$	(1,411)

Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Revenue and earnings from continuing operations by market segment

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


	Three Months Ended March 31,
		2022		2021
Revenue:
Engineered Products		$	487,647	$	428,127
Clean Energy & Fueling		458,395		389,678
Imaging & Identification		272,255		284,328
Pumps & Process Solutions		435,195		394,377
Climate & Sustainability Technologies		399,078		372,077
Intercompany eliminations		(669)		(686)
Total consolidated revenue		$	2,051,901	$	1,867,901
Net earnings:
Segment earnings (EBIT): (1)
Engineered Products		$	66,134	$	68,779
Clean Energy & Fueling		41,442		66,480
Imaging & Identification		51,529		56,992
Pumps & Process Solutions		139,340		123,645
Climate & Sustainability Technologies (2)		40,396		38,117
Total segment earnings (EBIT)		338,841		354,013
Corporate expense / other (3)		37,361		38,620
Interest expense		26,552		26,823
Interest income		(775)		(680)
Earnings before provision for income taxes		275,703		289,250
Provision for income taxes		49,550		56,481
Net earnings		$	226,153	$	232,769

(1) Segment earnings (EBIT) includes non-operating income and expense directly attributable to the segments.

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

The following table presents revenue disaggregated by geography based on the location of the Company's customer:


	Three Months Ended March 31,
Revenue by geography		2022		2021
United States		$	1,151,500	$	1,036,014
Europe		447,565		445,295
Asia		229,386		192,107
Other Americas		151,592		130,177
Other		71,858		64,308
Total		$	2,051,901	$	1,867,901

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Reconciliation of information used in computing basic and diluted earnings per share

The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share:


	Three Months Ended March 31,
		2022		2021


Net earnings		$	226,153	$	232,769
Basic earnings per common share:


Net earnings		$	1.57	$	1.62

Weighted average shares outstanding		144,087,000		143,765,000
Diluted earnings per common share:


Net earnings		$	1.56	$	1.61

Weighted average shares outstanding		145,329,000		144,938,000

Reconciliation of share amounts used in computing earnings per share

The following table is a reconciliation of the share amounts used in computing earnings per share:


	Three Months Ended March 31,
		2022	2021
Weighted average shares outstanding - Basic		144,087,000	143,765,000
Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs		1,242,000	1,173,000
Weighted average shares outstanding - Diluted		145,329,000	144,938,000

Revenue - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligation	$ 303,000
Revenue recognized that was included in the contract liability balance at the beginning of the period	$ 104,008	$ 104,617
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (in percent)	80.00%
Revenue recognized during the period	12 months
Transferred at Point in Time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (in percent)	95.00%
Transferred over Time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (in percent)	5.00%

Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract assets balance	$ 14,359	$ 11,440	$ 15,020
Contract liabilities - current	245,274	227,549	184,845
Contract liabilities - non-current	$ 27,985	$ 21,513	$ 13,921

Acquisitions - Narrative (Details) $ in Thousands			3 Months Ended
Acquisitions - Narrative (Details) $ in Thousands	Dec. 28, 2021 USD ($)	Dec. 16, 2021 USD ($)	Mar. 31, 2022 USD ($) acquisition	Mar. 31, 2021 acquisition
Business Acquisition [Line Items]
Number Of Acquisitions \| acquisition			0	0
Measurement period adjustments			$ (6,233)
RegO
Business Acquisition [Line Items]
Percentage acquired (in percent)	100.00%
Total consideration, net of cash acquired	$ 624,693
Goodwill - tax deductible	154,445
Goodwill - non deductible	118,075
Intangible assets	234,000
Accounts receivable	34,283
Fair value of trade receivables acquired	34,612
Allowance for uncollectable accounts	329
Measurement period adjustments			(4,456)
Cash acquired	10,382
RegO \| Customer intangibles
Business Acquisition [Line Items]
Intangible assets	173,000
RegO \| Patents
Business Acquisition [Line Items]
Intangible assets	40,000
RegO \| Trademarks
Business Acquisition [Line Items]
Intangible assets	$ 21,000
Acme Cryogenics
Business Acquisition [Line Items]
Percentage acquired (in percent)		100.00%
Total consideration, net of cash acquired		$ 292,285
Goodwill - non deductible		167,269
Intangible assets		127,300
Allowance for uncollectable accounts		235
Measurement period adjustments			$ (1,940)
Gross trade receivables acquired		14,912
Acme Cryogenics \| Other Current Assets
Business Acquisition [Line Items]
Accounts receivable		14,677
Acme Cryogenics \| Customer intangibles
Business Acquisition [Line Items]
Intangible assets		99,000
Acme Cryogenics \| Trademarks
Business Acquisition [Line Items]
Intangible assets		6,500
Acme Cryogenics \| Unpatented technologies
Business Acquisition [Line Items]
Intangible assets		$ 21,800

Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 28, 2021	Dec. 16, 2021
Business Acquisition [Line Items]
Goodwill	$ 4,526,137	$ 4,558,822
RegO
Business Acquisition [Line Items]
Accounts receivable			$ 34,283
Inventories			77,775
Other current assets			2,958
Property, plant and equipment			52,873
Goodwill			272,520
Intangible assets			234,000
Other assets and deferred charges			884
Current liabilities			(20,152)
Non-current liabilities			(30,448)
Net assets acquired			$ 624,693
Acme Cryogenics
Business Acquisition [Line Items]
Current assets, net of cash acquired				$ 30,184
Property, plant and equipment				8,640
Goodwill				167,269
Intangible assets				127,300
Other assets and deferred charges				5,057
Current liabilities				(9,085)
Non-current liabilities				(37,080)
Net assets acquired				$ 292,285

Acquisitions - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 28, 2021	Dec. 16, 2021
RegO
Business Acquisition [Line Items]
Goodwill - tax deductible	$ 154,445
Goodwill - non deductible	118,075
Intangible assets	234,000
Goodwill and intangible assets	506,520
Acme Cryogenics
Business Acquisition [Line Items]
Goodwill - non deductible		$ 167,269
Intangible assets		127,300
Goodwill and intangible assets		294,569
Customer intangibles \| RegO
Business Acquisition [Line Items]
Intangible assets	$ 173,000
Weighted average lives of finite-lived intangible assets acquired	15 years
Customer intangibles \| Acme Cryogenics
Business Acquisition [Line Items]
Intangible assets		$ 99,000
Weighted average lives of finite-lived intangible assets acquired		15 years
Patents \| RegO
Business Acquisition [Line Items]
Intangible assets	$ 40,000
Weighted average lives of finite-lived intangible assets acquired	12 years
Unpatented technologies \| Acme Cryogenics
Business Acquisition [Line Items]
Intangible assets		$ 21,800
Weighted average lives of finite-lived intangible assets acquired		12 years
Trademarks \| RegO
Business Acquisition [Line Items]
Intangible assets	$ 21,000
Weighted average lives of finite-lived intangible assets acquired	16 years
Trademarks \| Acme Cryogenics
Business Acquisition [Line Items]
Intangible assets		$ 6,500
Weighted average lives of finite-lived intangible assets acquired		16 years

Inventories, net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory, Net [Abstract]
Raw materials	$ 750,559	$ 671,195
Work in progress	291,601	271,659
Finished goods	413,721	377,800
Subtotal	1,455,881	1,320,654
Less reserves	(133,534)	(129,559)
Total	$ 1,322,347	$ 1,191,095

Property, Plant and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,480,519		$ 2,462,443
Accumulated depreciation	(1,520,389)		(1,505,133)
Property, plant and equipment, net	960,130		957,310
Depreciation expense	37,812	$ 38,194
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	64,746		63,656
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	586,083		582,314
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,829,690		$ 1,816,473

Credit Losses - Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at December 31, 2021	$ 40,126	$ 40,474
Provision for expected credit losses, net of recoveries	1,185	112
Amounts written off charged against the allowance	(603)	(973)
Other, including foreign currency translation	(387)	28
Ending balance, March 31	$ 40,321	$ 39,641

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 4,558,822
Measurement period adjustments	(6,233)
Foreign currency translation	(26,452)
Ending balance	4,526,137
Engineered Products
Goodwill [Roll Forward]
Beginning balance	723,283
Measurement period adjustments	0
Foreign currency translation	(3,821)
Ending balance	719,462
Clean Energy & Fueling
Goodwill [Roll Forward]
Beginning balance	1,427,691
Measurement period adjustments	(6,233)
Foreign currency translation	(6,243)
Ending balance	1,415,215
Imaging & Identification
Goodwill [Roll Forward]
Beginning balance	1,106,202
Measurement period adjustments	0
Foreign currency translation	(11,741)
Ending balance	1,094,461
Pumps & Process Solutions
Goodwill [Roll Forward]
Beginning balance	792,839
Measurement period adjustments	0
Foreign currency translation	(4,141)
Ending balance	788,698
Climate & Sustainability Technologies
Goodwill [Roll Forward]
Beginning balance	508,807
Measurement period adjustments	0
Foreign currency translation	(506)
Ending balance	$ 508,301

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Measurement period adjustments	$ (6,233)
Amortization of Intangible Assets	41,191	$ 35,612
Acquisition-related amortization expense	$ 40,799	$ 35,173

Goodwill and Other Intangible Assets - Intangibles and Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,634,940	$ 2,654,351
Accumulated Amortization	1,419,927	1,391,538
Net Carrying Amount	1,215,013	1,262,813
Total, Gross Carrying Amount	2,731,615	2,751,060
Total, Net Carrying Amount	1,311,688	1,359,522
Trademarks
Finite-Lived Intangible Assets [Line Items]
Unamortized intangible assets:	96,675	96,709
Customer intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,817,332	1,829,492
Accumulated Amortization	930,841	909,776
Net Carrying Amount	886,491	919,716
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	261,857	263,367
Accumulated Amortization	121,672	116,633
Net Carrying Amount	140,185	146,734
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	205,312	205,910
Accumulated Amortization	140,374	140,327
Net Carrying Amount	64,938	65,583
Unpatented technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	219,562	221,239
Accumulated Amortization	126,163	123,464
Net Carrying Amount	93,399	97,775
Distributor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	82,745	84,204
Accumulated Amortization	55,706	55,260
Net Carrying Amount	27,039	28,944
Drawings and manuals
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	26,816	27,792
Accumulated Amortization	26,816	27,303
Net Carrying Amount	0	489
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	21,316	22,347
Accumulated Amortization	18,355	18,775
Net Carrying Amount	$ 2,961	$ 3,572

Restructuring Activities (Details) - USD ($) $ in Thousands	3 Months Ended
Restructuring Activities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 8,157	$ 6,435
Restructuring Reserve [Roll Forward]
Balance at December 31, 2021	13,797
Restructuring charges	8,157
Payments	(3,927)
Other, including foreign currency translation	(6,817)
Balance at March 31, 2022	11,210
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(88)	661
Engineered Products \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	457	3,991
Clean Energy & Fueling \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	196	49
Imaging & Identification \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,191	690
Pumps & Process Solutions \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	685	(17)
Climate & Sustainability Technologies \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,716	1,061
Severance
Restructuring Reserve [Roll Forward]
Balance at December 31, 2021	10,730
Restructuring charges	778
Payments	(3,132)
Other, including foreign currency translation	(114)
Balance at March 31, 2022	8,262
Exit
Restructuring Reserve [Roll Forward]
Balance at December 31, 2021	3,067
Restructuring charges	7,379
Payments	(795)
Other, including foreign currency translation	(6,703)
Balance at March 31, 2022	2,948
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	207	3,907
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,950	$ 2,528

Borrowings - Short Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Notes payable	$ 113,480	$ 105,702
Short-term borrowings
Short-term Debt [Line Items]
Notes payable	680	702
Commercial paper
Short-term Debt [Line Items]
Notes payable	$ 112,800	$ 105,000

Borrowings - Long Term Debt (Details) € in Thousands	3 Months Ended
Borrowings - Long Term Debt (Details) € in Thousands	Mar. 31, 2022 USD ($)	Mar. 31, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Long-term borrowings [Abstract]
Total long-term debt	$ 2,981,922,000		$ 3,018,714,000
Unamortized debt discounts	14,400,000		15,100,000
Deferred debt issuance costs	12,100,000		12,500,000
Maximum borrowing capacity	1,000,000,000
Outstanding letters of credit	$ 149,700,000
Interest coverage ratio	1770.00%
3.15% 10-year notes due November 15, 2025
Long-term borrowings [Abstract]
Principal	$ 400,000,000
Total long-term debt	$ 397,558,000		397,389,000
Stated interest rate	3.15%	3.15%
Term of debt	10 years
1.25% 10-year notes due November 9, 2026 (euro-denominated)
Long-term borrowings [Abstract]
Principal \| €		€ 600,000
Total long-term debt	$ 653,913,000		674,217,000
Stated interest rate	1.25%	1.25%
Term of debt	10 years
0.750% 8-year notes due November 4, 2027 (euro denominated)
Long-term borrowings [Abstract]
Principal \| €		€ 500,000
Total long-term debt	$ 544,357,000		561,293,000
Stated interest rate	0.75%	0.75%
Term of debt	8 years
6.65% 30-year debentures due June 1, 2028
Long-term borrowings [Abstract]
Principal	$ 200,000,000
Total long-term debt	$ 199,381,000		199,356,000
Stated interest rate	6.65%	6.65%
Term of debt	30 years
2.950% 10-year notes due November 4, 2029
Long-term borrowings [Abstract]
Principal	$ 300,000,000
Total long-term debt	$ 297,123,000		297,029,000
Stated interest rate	2.95%	2.95%
Term of debt	10 years
5.375% 30-year debentures due October 15, 2035
Long-term borrowings [Abstract]
Principal	$ 300,000,000
Total long-term debt	$ 296,621,000		296,559,000
Stated interest rate	5.375%	5.375%
Term of debt	30 years
6.60% 30-year notes due March 15, 2038
Long-term borrowings [Abstract]
Principal	$ 250,000,000
Total long-term debt	$ 248,194,000		248,166,000
Stated interest rate	6.60%	6.60%
Term of debt	30 years
5.375% 30-year notes due March 1, 2041
Long-term borrowings [Abstract]
Principal	$ 350,000,000
Total long-term debt	$ 344,775,000		344,705,000
Stated interest rate	5.375%	5.375%
Term of debt	30 years
Credit Agreement \| Revolving Credit Facility
Long-term borrowings [Abstract]
Term of debt	5 years
Borrowings under credit facility	$ 0		$ 0
Interest coverage ratio required	300.00%

Financial Instruments - Narrative (Details) € in Thousands, $ in Thousands	Mar. 31, 2022 USD ($)	Mar. 31, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Estimate of Fair Value Measurement
Derivatives, Fair Value [Line Items]
Fair value of long-term debt	$ 3,167,903		$ 3,440,501
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amount	169,157		180,929
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amount	$ 97,921		$ 108,736
1.25% 10-year notes due November 9, 2026 (euro-denominated) \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Principal \| €		€ 600,000
0.750% 8-year notes due November 4, 2027 (euro denominated) \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Principal \| €		€ 500,000

Financial Instruments - Balance Sheet Location (Details) - Foreign currency forward - Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Prepaid and other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset	$ 3,822	$ 2,825
Other accrued expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Liability	$ (229)	$ (433)

Financial Instruments - Gain (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain on euro-denominated debt	$ 37,748	$ 46,433
Tax expense	(8,431)	(10,492)
Net gain on net investment hedges, net of tax	$ 29,317	$ 35,941

Financial Instruments - Fair Value (Details) - Level 2 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets:
Foreign currency cash flow hedges	$ 3,822	$ 2,825
Liabilities:
Foreign currency cash flow hedges	$ 229	$ 433

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Effective tax rate (in percent)	18.00%	19.50%
Minimum
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, lower bound	$ 0
Maximum
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, lower bound	$ 30,600

Equity Incentive Program (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-based compensation expense [Abstract]
Pre-tax stock-based compensation expense	$ 11,113	$ 11,521
Tax benefit	(1,115)	(1,222)
Total stock-based compensation expense, net of tax	$ 9,998	$ 10,299
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)	327,940
Risk-free interest rate (in percent)	1.86%	0.59%
Dividend yield (in percent)	1.25%	1.62%
Expected life (years)	5 years 4 months 24 days	5 years 6 months
Volatility (in percent)	29.46%	30.49%
Grant price (in dollars per share)	$ 160.21	$ 122.73
Fair value at date of grant (in dollars per share)	$ 42.07	$ 29.08
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)	40,087
Risk-free interest rate (in percent)	1.68%	0.19%
Dividend yield (in percent)	1.25%	1.62%
Expected life (years)	2 years 10 months 24 days	2 years 10 months 24 days
Volatility (in percent)	31.10%	31.90%
Grant price (in dollars per share)	$ 160.21	$ 122.73
Fair value at date of grant (in dollars per share)	$ 196.40	$ 148.29
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)	71,961

Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at December 31, 2021	$ 48,568	$ 51,088
Provision for warranties	16,052	18,897
Settlements made	(15,485)	(17,760)
Other adjustments, including acquisitions and currency translation	255	(839)
Ending balance, March 31	$ 49,390	$ 51,386

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Net periodic benefit cost [Abstract]
Defined contribution plan expense	$ 17,673	$ 15,061
Defined benefit pension plans \| U.S. Plan
Net periodic benefit cost [Abstract]
Service cost	1,426	1,784
Interest cost	3,436	3,401
Expected return on plan assets	(7,276)	(7,245)
Prior service cost (credit)	27	53
Recognized actuarial loss	575	2,503
Net periodic (income) expense	(1,812)	496
Defined benefit pension plans \| Non-U.S. Plans
Net periodic benefit cost [Abstract]
Service cost	1,221	1,442
Interest cost	884	667
Expected return on plan assets	(1,891)	(1,799)
Prior service cost (credit)	(134)	(169)
Recognized actuarial loss	458	1,000
Net periodic (income) expense	538	1,141
Supplemental Employee Retirement Plans, Defined Benefit
Net periodic benefit cost [Abstract]
Service cost	356	390
Interest cost	304	308
Prior service cost (credit)	372	383
Recognized actuarial loss	(504)	(418)
Net periodic (income) expense	$ 528	$ 663

Other Comprehensive Earnings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	$ 443,843	$ 408,998
Other income, net	(2,129)	(2,843)
Earnings before provision for income taxes	275,703	289,250
Tax benefit	(49,550)	(56,481)
Net earnings	226,153	232,769
Reclassification out of Accumulated Other Comprehensive Income \| Foreign currency translation:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	5,915	0
Tax benefit	0	0
Net earnings	5,915	0
Reclassification out of Accumulated Other Comprehensive Income \| Pension plans:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Earnings before provision for income taxes	789	3,355
Tax benefit	(208)	(773)
Net earnings	581	2,582
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	521	3,085
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of prior service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	268	270
Reclassification out of Accumulated Other Comprehensive Income \| Cash flow hedges:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Earnings before provision for income taxes	(2,029)	(1,833)
Tax benefit	453	422
Net earnings	$ (1,576)	$ (1,411)

Segment Information (Details) $ in Thousands	3 Months Ended
Segment Information (Details) $ in Thousands	Mar. 31, 2022 USD ($) segment	Mar. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	5
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	$ 2,051,901	$ 1,867,901
Earnings before provision for income taxes	275,703	289,250
Interest expense	26,552	26,823
Interest income	(775)	(680)
Earnings before provision for income taxes	275,703	289,250
Provision for income taxes	49,550	56,481
Net earnings	226,153	232,769
Reclassification of foreign currency translation losses to earnings	5,915	0
Intercompany eliminations
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	(669)	(686)
Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Earnings before provision for income taxes	338,841	354,013
Reclassification of foreign currency translation losses to earnings	5,457
Corporate
Reconciliation from Segment Totals to Consolidated [Abstract]
Earnings before provision for income taxes	37,361	38,620
United States
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	1,151,500	1,036,014
Europe
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	447,565	445,295
Asia
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	229,386	192,107
Other Americas
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	151,592	130,177
Other
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	71,858	64,308
Engineered Products \| Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	487,647	428,127
Earnings before provision for income taxes	66,134	68,779
Clean Energy & Fueling \| Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	458,395	389,678
Earnings before provision for income taxes	41,442	66,480
Imaging & Identification \| Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	272,255	284,328
Earnings before provision for income taxes	51,529	56,992
Pumps & Process Solutions \| Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	435,195	394,377
Earnings before provision for income taxes	139,340	123,645
Climate & Sustainability Technologies \| Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	399,078	372,077
Earnings before provision for income taxes	40,396	$ 38,117
Write off of assets	$ 2,117

Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Repurchases [Line Items]
Share repurchases	0	182,951
Purchase of common stock	$ 0	$ 21,637
Treasury Stock Acquired, Average Cost Per Share		$ 118.27
November 2020 Authorization
Share Repurchases [Line Items]
Number of shares authorized to be repurchased	20,000,000
Remaining number of shares authorized to be repurchased	19,817,049

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of information used in computing basic and diluted earnings per share [Abstract]
Net earnings	$ 226,153	$ 232,769
Basic earnings per common share:
Net earnings (in dollars per basic share)	$ 1.57	$ 1.62
Weighted average shares outstanding - basic (in shares)	144,087,000	143,765,000
Diluted earnings per common share:
Net earnings (in dollars per diluted share)	$ 1.56	$ 1.61
Weighted average shares outstanding - diluted (in shares)	145,329,000	144,938,000
Reconciliation Of Share Amounts Used In Computing Earnings Per Share [Abstract]
Weighted average shares outstanding - basic (in shares)	144,087,000	143,765,000
Dilutive effect of assumed exercise of SAR's and vesting of performance shares (in shares)	1,242,000	1,173,000
Weighted average shares outstanding - diluted (in shares)	145,329,000	144,938,000
Antidilutive securities excluded from computation of earnings per share	58,000	88,000

Subsequent Events (Details) - Subsequent Event [Member] - Electric Refuse Collection Vehicles $ in Thousands	Apr. 06, 2022 USD ($)
Subsequent Event [Line Items]
Purchase price	$ 9,750
Contingent consideration	$ 20,000