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For the years ended December 31, 2023, 2022, and 2021 we recognized revenue of $ 7.7 million, $ 10.1 million and $ 3.6 million related to our contract liabilities at January 1, 2023, 2022 and 2021, respectively. Impairment losses recognized in our receivables and contract assets were de minimis in 2023, 2022 and 2021. | text | 3.6 | monetaryItemType | text: <entity> 3.6 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022, and 2021 we recognized revenue of $ 7.7 million, $ 10.1 million and $ 3.6 million related to our contract liabilities at January 1, 2023, 2022 and 2021, respectively. Impairment losses recognized in our receivables and contract assets were de minimis in 2023, 2022 and 2021. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
The goodwill balances in the table above are presented net of accumulated impairment charges of $ 32.7 million, all of which relate to impairments in periods prior to 2021. | text | 32.7 | monetaryItemType | text: <entity> 32.7 </entity> <entity type> monetaryItemType </entity type> <context> The goodwill balances in the table above are presented net of accumulated impairment charges of $ 32.7 million, all of which relate to impairments in periods prior to 2021. </context> | us-gaap:GoodwillImpairedAccumulatedImpairmentLoss |
There was $ 4.6 million of goodwill related to our European portfolio. As part of the loss on assets held for sale that was recorded in the third quarter of 2023, we recorded an impairment of $ 2.3 million for a portion of the goodwill transferred. The remaining goodwill was included in the balance of disposed net assets. | text | 4.6 | monetaryItemType | text: <entity> 4.6 </entity> <entity type> monetaryItemType </entity type> <context> There was $ 4.6 million of goodwill related to our European portfolio. As part of the loss on assets held for sale that was recorded in the third quarter of 2023, we recorded an impairment of $ 2.3 million for a portion of the goodwill transferred. The remaining goodwill was included in the balance of disposed net assets. </context> | us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit |
No impairment charges were recorded in 2023 or 2022, except to the extent of respective property, plant and equipment impaired as part of the disposition of our European operations. | text | No | monetaryItemType | text: <entity> No </entity> <entity type> monetaryItemType </entity type> <context> No impairment charges were recorded in 2023 or 2022, except to the extent of respective property, plant and equipment impaired as part of the disposition of our European operations. </context> | us-gaap:ImpairmentOfLongLivedAssetsToBeDisposedOf |
The estimated prior service costs and actuarial losses for pension benefits that will be amortized from AOCL in 2024 are $ 0.1 million and $ 1.4 million, respectively. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> The estimated prior service costs and actuarial losses for pension benefits that will be amortized from AOCL in 2024 are $ 0.1 million and $ 1.4 million, respectively. </context> | us-gaap:DefinedBenefitPlanExpectedAmortizationOfPriorServiceCostCreditNextFiscalYear |
The estimated prior service costs and actuarial losses for pension benefits that will be amortized from AOCL in 2024 are $ 0.1 million and $ 1.4 million, respectively. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> The estimated prior service costs and actuarial losses for pension benefits that will be amortized from AOCL in 2024 are $ 0.1 million and $ 1.4 million, respectively. </context> | us-gaap:DefinedBenefitPlanExpectedAmortizationOfGainLossNextFiscalYear |
To develop the expected long-term rate of return on assets assumption for the U.S. plans, we considered the historical returns for each asset category, as well as the target asset allocation of the pension portfolio and the effect of periodic balancing. These results were adjusted for the payment of reasonable expenses of the plan from plan assets. This resulted in the selection of the 6.50 % long-term rate of return on assets assumption. A similar process was followed for the non-U.S.-based plans. | text | 6.50 | percentItemType | text: <entity> 6.50 </entity> <entity type> percentItemType </entity type> <context> To develop the expected long-term rate of return on assets assumption for the U.S. plans, we considered the historical returns for each asset category, as well as the target asset allocation of the pension portfolio and the effect of periodic balancing. These results were adjusted for the payment of reasonable expenses of the plan from plan assets. This resulted in the selection of the 6.50 % long-term rate of return on assets assumption. A similar process was followed for the non-U.S.-based plans. </context> | us-gaap:DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets |
In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and | text | 12.2 | monetaryItemType | text: <entity> 12.2 </entity> <entity type> monetaryItemType </entity type> <context> In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and </context> | us-gaap:DefinedBenefitPlanContributionsByEmployer |
In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and | text | 4.5 | percentItemType | text: <entity> 4.5 </entity> <entity type> percentItemType </entity type> <context> In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and </context> | us-gaap:DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets |
In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and | text | 84 | percentItemType | text: <entity> 84 </entity> <entity type> percentItemType </entity type> <context> In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and </context> | us-gaap:DefinedBenefitPlanWeightedAverageAssetAllocations |
In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and | text | 7 | percentItemType | text: <entity> 7 </entity> <entity type> percentItemType </entity type> <context> In the fourth quarter of 2023, based on the strong funded status of our U.S. pension plan, we opted to make a $ 12.2 million voluntary contribution to the plan to increase the funded status and fully fund the plan. With the U.S. pension plan fully funded, the asset allocation was changed from a blend of 50 % equities and 50 % fixed income to 100 % fixed income in order to align changes in asset values with changes in liabilities, therefore reducing funded status volatility, which effectively placed the plan in hibernation status. As a result, we reduced the expected long-term rate of return for our U.S. pension plan assets to 4.5 %. Our U.S. pension plan represents 84 %, our Canadian pension plan 7 %, and </context> | us-gaap:DefinedBenefitPlanWeightedAverageAssetAllocations |
our United Kingdom (“U.K.”) pension plan 9 % of the total fair value of our plan assets as of December 31, 2023. | text | 9 | percentItemType | text: <entity> 9 </entity> <entity type> percentItemType </entity type> <context> our United Kingdom (“U.K.”) pension plan 9 % of the total fair value of our plan assets as of December 31, 2023. </context> | us-gaap:DefinedBenefitPlanWeightedAverageAssetAllocations |
Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. | text | 75 | percentItemType | text: <entity> 75 </entity> <entity type> percentItemType </entity type> <context> Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. | text | 25 | percentItemType | text: <entity> 25 </entity> <entity type> percentItemType </entity type> <context> Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. | text | 90 | percentItemType | text: <entity> 90 </entity> <entity type> percentItemType </entity type> <context> Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. | text | 10 | percentItemType | text: <entity> 10 </entity> <entity type> percentItemType </entity type> <context> Similarly, based on the strong funded status of our Canadian pension plans, the asset allocation was adjusted as well, with the Salaried plan moving from 75 % fixed income and 25 % equity to 100 % fixed income, and the Hourly plan moving from 75 % fixed income and 25 % equity to 90 % fixed income and 10 % equity. As with the U.S. pension plan, this change in asset allocation will greatly reduce funded status volatility. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
We participate in two joint ventures, the largest located in the U.S. and the other in Mexico, that are engaged in the manufacture and sale of compressors, unit coolers and condensing units. We exert significant influence over these affiliates based upon our respective 25 % and 50 % ownership, but do not control them due to venture partner participation. Accordingly, these joint ventures have been accounted for under the equity method and their financial position and results of operations are not consolidated. | text | 25 | percentItemType | text: <entity> 25 </entity> <entity type> percentItemType </entity type> <context> We participate in two joint ventures, the largest located in the U.S. and the other in Mexico, that are engaged in the manufacture and sale of compressors, unit coolers and condensing units. We exert significant influence over these affiliates based upon our respective 25 % and 50 % ownership, but do not control them due to venture partner participation. Accordingly, these joint ventures have been accounted for under the equity method and their financial position and results of operations are not consolidated. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
We participate in two joint ventures, the largest located in the U.S. and the other in Mexico, that are engaged in the manufacture and sale of compressors, unit coolers and condensing units. We exert significant influence over these affiliates based upon our respective 25 % and 50 % ownership, but do not control them due to venture partner participation. Accordingly, these joint ventures have been accounted for under the equity method and their financial position and results of operations are not consolidated. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> We participate in two joint ventures, the largest located in the U.S. and the other in Mexico, that are engaged in the manufacture and sale of compressors, unit coolers and condensing units. We exert significant influence over these affiliates based upon our respective 25 % and 50 % ownership, but do not control them due to venture partner participation. Accordingly, these joint ventures have been accounted for under the equity method and their financial position and results of operations are not consolidated. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
As of December 31, 2023 and 2022, we had $ 10.8 million and $ 21.5 million in tax-effected foreign net operating loss carryforwards, respectively. The deferred tax asset valuation allowance relates primarily to loss carryforwards. The remainder of the valuation allowance relates to state tax credits. | text | 10.8 | monetaryItemType | text: <entity> 10.8 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, we had $ 10.8 million and $ 21.5 million in tax-effected foreign net operating loss carryforwards, respectively. The deferred tax asset valuation allowance relates primarily to loss carryforwards. The remainder of the valuation allowance relates to state tax credits. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign |
As of December 31, 2023 and 2022, we had $ 10.8 million and $ 21.5 million in tax-effected foreign net operating loss carryforwards, respectively. The deferred tax asset valuation allowance relates primarily to loss carryforwards. The remainder of the valuation allowance relates to state tax credits. | text | 21.5 | monetaryItemType | text: <entity> 21.5 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, we had $ 10.8 million and $ 21.5 million in tax-effected foreign net operating loss carryforwards, respectively. The deferred tax asset valuation allowance relates primarily to loss carryforwards. The remainder of the valuation allowance relates to state tax credits. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign |
On October 25, 2023, we established a commercial paper program (the “Program”) pursuant to which we may issue short-term, unsecured commercial paper notes (the “CP Notes”) under the exemption from registration contained in Section 4(a)(2) of the Securities Act. Amounts available under the Program may be borrowed, repaid, and re-borrowed from time to time, with the aggregate face or principal amount of the CP Notes outstanding under the Program at any time not to exceed $ 500.0 million. The CP Notes will have maturities of up to 397 days from the date of issue. The CP Notes will rank pari passu with all of our other unsecured and unsubordinated indebtedness. The net proceeds of the issuances of the CP Notes are expected to be used for general corporate purposes. We plan to use our revolving credit facility as a liquidity backstop for the repayment of CP Notes outstanding under the Program. We had outstanding CP Notes of $ 150.0 million as of December 31, 2023. | text | 150.0 | monetaryItemType | text: <entity> 150.0 </entity> <entity type> monetaryItemType </entity type> <context> On October 25, 2023, we established a commercial paper program (the “Program”) pursuant to which we may issue short-term, unsecured commercial paper notes (the “CP Notes”) under the exemption from registration contained in Section 4(a)(2) of the Securities Act. Amounts available under the Program may be borrowed, repaid, and re-borrowed from time to time, with the aggregate face or principal amount of the CP Notes outstanding under the Program at any time not to exceed $ 500.0 million. The CP Notes will have maturities of up to 397 days from the date of issue. The CP Notes will rank pari passu with all of our other unsecured and unsubordinated indebtedness. The net proceeds of the issuances of the CP Notes are expected to be used for general corporate purposes. We plan to use our revolving credit facility as a liquidity backstop for the repayment of CP Notes outstanding under the Program. We had outstanding CP Notes of $ 150.0 million as of December 31, 2023. </context> | us-gaap:CommercialPaper |
In August 2023, we entered into the Second Amendment (the “Second Amendment”) to our existing Credit Agreement, dated as of July 14, 2021 (as amended, the "Credit Agreement"), with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto. Under the Second Amendment, the revolving commitments were increased by $ 350 million and certain representations required to be made as conditions precedent to borrowing were revised to provide us greater flexibility to enter into additional future financings. | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> In August 2023, we entered into the Second Amendment (the “Second Amendment”) to our existing Credit Agreement, dated as of July 14, 2021 (as amended, the "Credit Agreement"), with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto. Under the Second Amendment, the revolving commitments were increased by $ 350 million and certain representations required to be made as conditions precedent to borrowing were revised to provide us greater flexibility to enter into additional future financings. </context> | us-gaap:LineOfCreditFacilityIncreaseDecreaseForPeriodNet |
The Credit Agreement consists of a $ 1,100.0 million unsecured revolving credit facility that matures in July 2026. We had outstanding borrowings of $ 20.0 million as well as $ 1.7 million committed to standby letters of credit as of December 31, 2023. Subject to covenant limitations, $ 928.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Commercial Paper Program. The revolving credit facility includes a subfacility for swingline loans of up to $ 65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. | text | 1100.0 | monetaryItemType | text: <entity> 1100.0 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement consists of a $ 1,100.0 million unsecured revolving credit facility that matures in July 2026. We had outstanding borrowings of $ 20.0 million as well as $ 1.7 million committed to standby letters of credit as of December 31, 2023. Subject to covenant limitations, $ 928.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Commercial Paper Program. The revolving credit facility includes a subfacility for swingline loans of up to $ 65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The Credit Agreement consists of a $ 1,100.0 million unsecured revolving credit facility that matures in July 2026. We had outstanding borrowings of $ 20.0 million as well as $ 1.7 million committed to standby letters of credit as of December 31, 2023. Subject to covenant limitations, $ 928.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Commercial Paper Program. The revolving credit facility includes a subfacility for swingline loans of up to $ 65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. | text | 20.0 | monetaryItemType | text: <entity> 20.0 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement consists of a $ 1,100.0 million unsecured revolving credit facility that matures in July 2026. We had outstanding borrowings of $ 20.0 million as well as $ 1.7 million committed to standby letters of credit as of December 31, 2023. Subject to covenant limitations, $ 928.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Commercial Paper Program. The revolving credit facility includes a subfacility for swingline loans of up to $ 65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. </context> | us-gaap:LineOfCredit |
The Credit Agreement consists of a $ 1,100.0 million unsecured revolving credit facility that matures in July 2026. We had outstanding borrowings of $ 20.0 million as well as $ 1.7 million committed to standby letters of credit as of December 31, 2023. Subject to covenant limitations, $ 928.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Commercial Paper Program. The revolving credit facility includes a subfacility for swingline loans of up to $ 65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. | text | 928.3 | monetaryItemType | text: <entity> 928.3 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement consists of a $ 1,100.0 million unsecured revolving credit facility that matures in July 2026. We had outstanding borrowings of $ 20.0 million as well as $ 1.7 million committed to standby letters of credit as of December 31, 2023. Subject to covenant limitations, $ 928.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Commercial Paper Program. The revolving credit facility includes a subfacility for swingline loans of up to $ 65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. </context> | us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity |
The Credit Agreement consists of a $ 1,100.0 million unsecured revolving credit facility that matures in July 2026. We had outstanding borrowings of $ 20.0 million as well as $ 1.7 million committed to standby letters of credit as of December 31, 2023. Subject to covenant limitations, $ 928.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Commercial Paper Program. The revolving credit facility includes a subfacility for swingline loans of up to $ 65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. | text | 65.0 | monetaryItemType | text: <entity> 65.0 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement consists of a $ 1,100.0 million unsecured revolving credit facility that matures in July 2026. We had outstanding borrowings of $ 20.0 million as well as $ 1.7 million committed to standby letters of credit as of December 31, 2023. Subject to covenant limitations, $ 928.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Commercial Paper Program. The revolving credit facility includes a subfacility for swingline loans of up to $ 65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
In the event of a credit rating downgrade below investment grade resulting from a change of control, holders of our senior unsecured notes will have the right to require us to repurchase all or a portion of the senior unsecured notes at a repurchase price equal to 101 % of the principal amount of the notes, plus accrued and unpaid interest, if any. The notes are guaranteed, on a senior unsecured basis, by each of our subsidiaries that guarantee payment by us of any indebtedness under our Credit Agreement. The indenture governing the notes contains covenants that, among other things, limit our ability and the ability of the subsidiary guarantors to: create or incur certain liens; enter into certain sale and leaseback transactions; enter into certain mergers, consolidations and transfers of substantially all of our assets; and transfer certain properties. The indenture also contains a cross default provision which is triggered if we default on other debt of at least $ 75 million in principal which is then accelerated, and such acceleration is not rescinded within 30 days of the notice date. | text | 101 | percentItemType | text: <entity> 101 </entity> <entity type> percentItemType </entity type> <context> In the event of a credit rating downgrade below investment grade resulting from a change of control, holders of our senior unsecured notes will have the right to require us to repurchase all or a portion of the senior unsecured notes at a repurchase price equal to 101 % of the principal amount of the notes, plus accrued and unpaid interest, if any. The notes are guaranteed, on a senior unsecured basis, by each of our subsidiaries that guarantee payment by us of any indebtedness under our Credit Agreement. The indenture governing the notes contains covenants that, among other things, limit our ability and the ability of the subsidiary guarantors to: create or incur certain liens; enter into certain sale and leaseback transactions; enter into certain mergers, consolidations and transfers of substantially all of our assets; and transfer certain properties. The indenture also contains a cross default provision which is triggered if we default on other debt of at least $ 75 million in principal which is then accelerated, and such acceleration is not rescinded within 30 days of the notice date. </context> | us-gaap:DebtInstrumentRedemptionPricePercentage |
In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). | text | 500.0 | monetaryItemType | text: <entity> 500.0 </entity> <entity type> monetaryItemType </entity type> <context> In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). </context> | us-gaap:DebtInstrumentFaceAmount |
In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). | text | 5.50 | percentItemType | text: <entity> 5.50 </entity> <entity type> percentItemType </entity type> <context> In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). | text | 300.0 | monetaryItemType | text: <entity> 300.0 </entity> <entity type> monetaryItemType </entity type> <context> In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). </context> | us-gaap:DebtInstrumentFaceAmount |
In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). | text | 1.35 | percentItemType | text: <entity> 1.35 </entity> <entity type> percentItemType </entity type> <context> In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). | text | 1.70 | percentItemType | text: <entity> 1.70 </entity> <entity type> percentItemType </entity type> <context> In September 2023, we issued $ 500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50 %. We issued two series of senior unsecured notes on July 30, 2020 for $ 300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes") with interest being paid semi-annually on February and August at 1.35 % and 1.70 % respectively, per annum (the 2025 Notes, the 2027 Notes, and the 2028 Notes, collectively the “Notes”). </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Under the Lennox International Inc. 2019 Equity and Incentive Compensation Plan, we are authorized to issue awards for 1.7 million shares of common stock. The plan provides for various long-term incentive awards, including performance share units, restricted stock units and stock appreciation rights. A description of these long-term incentive awards and related activity within each award category is provided below. As of December 31, 2023, there were 1.6 million shares available for future issuance. | text | 1.7 | sharesItemType | text: <entity> 1.7 </entity> <entity type> sharesItemType </entity type> <context> Under the Lennox International Inc. 2019 Equity and Incentive Compensation Plan, we are authorized to issue awards for 1.7 million shares of common stock. The plan provides for various long-term incentive awards, including performance share units, restricted stock units and stock appreciation rights. A description of these long-term incentive awards and related activity within each award category is provided below. As of December 31, 2023, there were 1.6 million shares available for future issuance. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
Under the Lennox International Inc. 2019 Equity and Incentive Compensation Plan, we are authorized to issue awards for 1.7 million shares of common stock. The plan provides for various long-term incentive awards, including performance share units, restricted stock units and stock appreciation rights. A description of these long-term incentive awards and related activity within each award category is provided below. As of December 31, 2023, there were 1.6 million shares available for future issuance. | text | 1.6 | sharesItemType | text: <entity> 1.6 </entity> <entity type> sharesItemType </entity type> <context> Under the Lennox International Inc. 2019 Equity and Incentive Compensation Plan, we are authorized to issue awards for 1.7 million shares of common stock. The plan provides for various long-term incentive awards, including performance share units, restricted stock units and stock appreciation rights. A description of these long-term incentive awards and related activity within each award category is provided below. As of December 31, 2023, there were 1.6 million shares available for future issuance. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
As of December 31, 2023, we had $ 9.2 million of total unrecognized compensation cost related to non-vested performance share units that are expected to be recognized over a weighted-average period of 1.7 years years. Our weighted-average estimated forfeiture rate for these performance share units was 17.9 % as of December 31, 2023. | text | 9.2 | monetaryItemType | text: <entity> 9.2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, we had $ 9.2 million of total unrecognized compensation cost related to non-vested performance share units that are expected to be recognized over a weighted-average period of 1.7 years years. Our weighted-average estimated forfeiture rate for these performance share units was 17.9 % as of December 31, 2023. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
As of December 31, 2023, we had $ 11.4 million of total unrecognized compensation cost related to non-vested restricted stock units that are expected to be recognized over a weighted-average period of 1.7 years. Our estimated forfeiture rate for restricted stock units was 20.3 % as of December 31, 2023. | text | 11.4 | monetaryItemType | text: <entity> 11.4 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, we had $ 11.4 million of total unrecognized compensation cost related to non-vested restricted stock units that are expected to be recognized over a weighted-average period of 1.7 years. Our estimated forfeiture rate for restricted stock units was 20.3 % as of December 31, 2023. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
As of December 31, 2023, we had $ 5.3 million of unrecognized compensation cost related to non-vested stock appreciation rights that is expected to be recognized over a weighted-average period of 1.7 years. Our estimated forfeiture rate for stock appreciation rights was 13.6 % as of December 31, 2023. | text | 5.3 | monetaryItemType | text: <entity> 5.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, we had $ 5.3 million of unrecognized compensation cost related to non-vested stock appreciation rights that is expected to be recognized over a weighted-average period of 1.7 years. Our estimated forfeiture rate for stock appreciation rights was 13.6 % as of December 31, 2023. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
On May 24, 2022, the Company commenced a new Employee Stock Purchase Plan to succeed the prior agreement from 2012. Under the 2022 Employee Stock Purchase Plan (“ESPP”), all employees who meet certain service requirements are eligible to purchase our common stock through payroll deductions at the end of three month offering periods. The purchase price for such shares is 95 % of the fair market value of the stock on the last day of the offering period. A maximum of 1.0 million shares is authorized for purchase until issuance of all shares available under the plan, unless terminated earlier at the discretion of the Board of Directors. Employees purchased approximately 12,200 shares under the ESPP during the year ended December 31, 2023. Approximately 0.9 million shares remain available for purchase under the ESPP as of December 31, 2023. | text | 95 | percentItemType | text: <entity> 95 </entity> <entity type> percentItemType </entity type> <context> On May 24, 2022, the Company commenced a new Employee Stock Purchase Plan to succeed the prior agreement from 2012. Under the 2022 Employee Stock Purchase Plan (“ESPP”), all employees who meet certain service requirements are eligible to purchase our common stock through payroll deductions at the end of three month offering periods. The purchase price for such shares is 95 % of the fair market value of the stock on the last day of the offering period. A maximum of 1.0 million shares is authorized for purchase until issuance of all shares available under the plan, unless terminated earlier at the discretion of the Board of Directors. Employees purchased approximately 12,200 shares under the ESPP during the year ended December 31, 2023. Approximately 0.9 million shares remain available for purchase under the ESPP as of December 31, 2023. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent |
On May 24, 2022, the Company commenced a new Employee Stock Purchase Plan to succeed the prior agreement from 2012. Under the 2022 Employee Stock Purchase Plan (“ESPP”), all employees who meet certain service requirements are eligible to purchase our common stock through payroll deductions at the end of three month offering periods. The purchase price for such shares is 95 % of the fair market value of the stock on the last day of the offering period. A maximum of 1.0 million shares is authorized for purchase until issuance of all shares available under the plan, unless terminated earlier at the discretion of the Board of Directors. Employees purchased approximately 12,200 shares under the ESPP during the year ended December 31, 2023. Approximately 0.9 million shares remain available for purchase under the ESPP as of December 31, 2023. | text | 1.0 | sharesItemType | text: <entity> 1.0 </entity> <entity type> sharesItemType </entity type> <context> On May 24, 2022, the Company commenced a new Employee Stock Purchase Plan to succeed the prior agreement from 2012. Under the 2022 Employee Stock Purchase Plan (“ESPP”), all employees who meet certain service requirements are eligible to purchase our common stock through payroll deductions at the end of three month offering periods. The purchase price for such shares is 95 % of the fair market value of the stock on the last day of the offering period. A maximum of 1.0 million shares is authorized for purchase until issuance of all shares available under the plan, unless terminated earlier at the discretion of the Board of Directors. Employees purchased approximately 12,200 shares under the ESPP during the year ended December 31, 2023. Approximately 0.9 million shares remain available for purchase under the ESPP as of December 31, 2023. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
On May 24, 2022, the Company commenced a new Employee Stock Purchase Plan to succeed the prior agreement from 2012. Under the 2022 Employee Stock Purchase Plan (“ESPP”), all employees who meet certain service requirements are eligible to purchase our common stock through payroll deductions at the end of three month offering periods. The purchase price for such shares is 95 % of the fair market value of the stock on the last day of the offering period. A maximum of 1.0 million shares is authorized for purchase until issuance of all shares available under the plan, unless terminated earlier at the discretion of the Board of Directors. Employees purchased approximately 12,200 shares under the ESPP during the year ended December 31, 2023. Approximately 0.9 million shares remain available for purchase under the ESPP as of December 31, 2023. | text | 12200 | sharesItemType | text: <entity> 12200 </entity> <entity type> sharesItemType </entity type> <context> On May 24, 2022, the Company commenced a new Employee Stock Purchase Plan to succeed the prior agreement from 2012. Under the 2022 Employee Stock Purchase Plan (“ESPP”), all employees who meet certain service requirements are eligible to purchase our common stock through payroll deductions at the end of three month offering periods. The purchase price for such shares is 95 % of the fair market value of the stock on the last day of the offering period. A maximum of 1.0 million shares is authorized for purchase until issuance of all shares available under the plan, unless terminated earlier at the discretion of the Board of Directors. Employees purchased approximately 12,200 shares under the ESPP during the year ended December 31, 2023. Approximately 0.9 million shares remain available for purchase under the ESPP as of December 31, 2023. </context> | us-gaap:StockRepurchasedDuringPeriodShares |
On May 24, 2022, the Company commenced a new Employee Stock Purchase Plan to succeed the prior agreement from 2012. Under the 2022 Employee Stock Purchase Plan (“ESPP”), all employees who meet certain service requirements are eligible to purchase our common stock through payroll deductions at the end of three month offering periods. The purchase price for such shares is 95 % of the fair market value of the stock on the last day of the offering period. A maximum of 1.0 million shares is authorized for purchase until issuance of all shares available under the plan, unless terminated earlier at the discretion of the Board of Directors. Employees purchased approximately 12,200 shares under the ESPP during the year ended December 31, 2023. Approximately 0.9 million shares remain available for purchase under the ESPP as of December 31, 2023. | text | 0.9 | sharesItemType | text: <entity> 0.9 </entity> <entity type> sharesItemType </entity type> <context> On May 24, 2022, the Company commenced a new Employee Stock Purchase Plan to succeed the prior agreement from 2012. Under the 2022 Employee Stock Purchase Plan (“ESPP”), all employees who meet certain service requirements are eligible to purchase our common stock through payroll deductions at the end of three month offering periods. The purchase price for such shares is 95 % of the fair market value of the stock on the last day of the offering period. A maximum of 1.0 million shares is authorized for purchase until issuance of all shares available under the plan, unless terminated earlier at the discretion of the Board of Directors. Employees purchased approximately 12,200 shares under the ESPP during the year ended December 31, 2023. Approximately 0.9 million shares remain available for purchase under the ESPP as of December 31, 2023. </context> | us-gaap:StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased |
Total gain of $ 7.5 million includes a $ 1.8 million working capital true up due to us from the buyer in connection with the disposition. | text | 7.5 | monetaryItemType | text: <entity> 7.5 </entity> <entity type> monetaryItemType </entity type> <context> Total gain of $ 7.5 million includes a $ 1.8 million working capital true up due to us from the buyer in connection with the disposition. </context> | us-gaap:GainLossOnSaleOfBusiness |
Additionally during the third quarter of 2023, we obtained Board of Directors' approval and signed an agreement with Syntagma Capital Partners, a private Belgium company, for the sale of our European commercial HVAC and refrigeration operations. The sale was completed on December 29, 2023. In the third quarter of 2023 we recorded an impairment of $ 63.2 million related to the sale. The impairment consisted of a $ 38.3 million valuation allowance for the difference between the estimated consideration, net of our estimated costs to sell and the carrying value of the net assets, including related amounts in accumulated other comprehensive loss, $ 22.6 million impairment of property, plant and equipment and $ 2.3 million impairment of goodwill. | text | 63.2 | monetaryItemType | text: <entity> 63.2 </entity> <entity type> monetaryItemType </entity type> <context> Additionally during the third quarter of 2023, we obtained Board of Directors' approval and signed an agreement with Syntagma Capital Partners, a private Belgium company, for the sale of our European commercial HVAC and refrigeration operations. The sale was completed on December 29, 2023. In the third quarter of 2023 we recorded an impairment of $ 63.2 million related to the sale. The impairment consisted of a $ 38.3 million valuation allowance for the difference between the estimated consideration, net of our estimated costs to sell and the carrying value of the net assets, including related amounts in accumulated other comprehensive loss, $ 22.6 million impairment of property, plant and equipment and $ 2.3 million impairment of goodwill. </context> | us-gaap:ImpairmentOfLongLivedAssetsToBeDisposedOf |
The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. | text | 10.3 | monetaryItemType | text: <entity> 10.3 </entity> <entity type> monetaryItemType </entity type> <context> The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. </context> | us-gaap:GainLossOnSaleOfBusiness |
The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. | text | 3.8 | monetaryItemType | text: <entity> 3.8 </entity> <entity type> monetaryItemType </entity type> <context> The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. </context> | us-gaap:DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod |
The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. | text | 38.1 | monetaryItemType | text: <entity> 38.1 </entity> <entity type> monetaryItemType </entity type> <context> The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. </context> | us-gaap:ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries |
The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. | text | 14.9 | monetaryItemType | text: <entity> 14.9 </entity> <entity type> monetaryItemType </entity type> <context> The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents |
The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. | text | 23.2 | monetaryItemType | text: <entity> 23.2 </entity> <entity type> monetaryItemType </entity type> <context> The total gain on the sale of Hyfra and our European HVAC and refrigeration divestitures of $ 10.3 million is net of $ 3.8 million of tax associated with the sale. This $ 3.8 million tax item is included in Income tax expense in our Statement of Operations. The total gain included in operating income is $ 14.1 million. The total cash consideration received from these divestitures was $ 38.1 million. At the date of closing the divested entities held $ 14.9 million in cash, thus the net proceeds from the sale of the businesses was $ 23.2 million. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
In October 2023, we completed the acquisition of AES, a company dedicated to service and sustainability in the light commercial market. The total purchase price consideration, net of cash acquired, for the acquisition of AES was $ 94.9 million, which was primarily funded by cash and borrowings under our financing arrangements. | text | 94.9 | monetaryItemType | text: <entity> 94.9 </entity> <entity type> monetaryItemType </entity type> <context> In October 2023, we completed the acquisition of AES, a company dedicated to service and sustainability in the light commercial market. The total purchase price consideration, net of cash acquired, for the acquisition of AES was $ 94.9 million, which was primarily funded by cash and borrowings under our financing arrangements. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
Subsequent to the purchase of AES, we recognized net sales of approximately $ 13 million and the acquired business contributed approximately $ 1 million to the Building Climate Solutions segment profit from the date of acquisition through December 31, 2023. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> Subsequent to the purchase of AES, we recognized net sales of approximately $ 13 million and the acquired business contributed approximately $ 1 million to the Building Climate Solutions segment profit from the date of acquisition through December 31, 2023. </context> | us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual |
Subsequent to the purchase of AES, we recognized net sales of approximately $ 13 million and the acquired business contributed approximately $ 1 million to the Building Climate Solutions segment profit from the date of acquisition through December 31, 2023. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Subsequent to the purchase of AES, we recognized net sales of approximately $ 13 million and the acquired business contributed approximately $ 1 million to the Building Climate Solutions segment profit from the date of acquisition through December 31, 2023. </context> | us-gaap:BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual |
rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. | text | 23.1 | monetaryItemType | text: <entity> 23.1 </entity> <entity type> monetaryItemType </entity type> <context> rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. </context> | us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent |
rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. | text | 8.0 | monetaryItemType | text: <entity> 8.0 </entity> <entity type> monetaryItemType </entity type> <context> rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. </context> | us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent |
rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. | text | 15.6 | monetaryItemType | text: <entity> 15.6 </entity> <entity type> monetaryItemType </entity type> <context> rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. </context> | us-gaap:ProvisionForDoubtfulAccounts |
rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. | text | 6.5 | monetaryItemType | text: <entity> 6.5 </entity> <entity type> monetaryItemType </entity type> <context> rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. </context> | us-gaap:ProvisionForDoubtfulAccounts |
rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> rmined to be uncollectible. As of December 31, 2023 and 2022, the allowance for doubtful accounts totaled $ 23.1 million and $ 8.0 million, respectively. We also recognized bad debt expense, net of recoveries, in selling, general and administrative expenses of $ 15.6 million, $ 6.5 million, and $ 0.4 million in 2023, 2022, and 2021, respectively. </context> | us-gaap:ProvisionForDoubtfulAccounts |
ntory cost exceeds net realizable value, we record a charge to cost of sales and reduce the inventory to its net realizable value. The allowances for excess and obsolete inventories at December 31, 2023 and 2022 totaled $ 67.9 million and $ 45.9 million, respectively. | text | 67.9 | monetaryItemType | text: <entity> 67.9 </entity> <entity type> monetaryItemType </entity type> <context> ntory cost exceeds net realizable value, we record a charge to cost of sales and reduce the inventory to its net realizable value. The allowances for excess and obsolete inventories at December 31, 2023 and 2022 totaled $ 67.9 million and $ 45.9 million, respectively. </context> | us-gaap:InventoryValuationReserves |
ntory cost exceeds net realizable value, we record a charge to cost of sales and reduce the inventory to its net realizable value. The allowances for excess and obsolete inventories at December 31, 2023 and 2022 totaled $ 67.9 million and $ 45.9 million, respectively. | text | 45.9 | monetaryItemType | text: <entity> 45.9 </entity> <entity type> monetaryItemType </entity type> <context> ntory cost exceeds net realizable value, we record a charge to cost of sales and reduce the inventory to its net realizable value. The allowances for excess and obsolete inventories at December 31, 2023 and 2022 totaled $ 67.9 million and $ 45.9 million, respectively. </context> | us-gaap:InventoryValuationReserves |
om 30 % to 106 %. Using both an income approach and market approach, we determined that there was no impairment during 2023. During 2022 and 2021, we did no t recognize any goodwill impairment from continuing operations other than a $ 1.7 million impairment in 2021 in connection with the sale of an oil and gas business in Brazil. See Notes 5 for further discussion. | text | 30 | percentItemType | text: <entity> 30 </entity> <entity type> percentItemType </entity type> <context> om 30 % to 106 %. Using both an income approach and market approach, we determined that there was no impairment during 2023. During 2022 and 2021, we did no t recognize any goodwill impairment from continuing operations other than a $ 1.7 million impairment in 2021 in connection with the sale of an oil and gas business in Brazil. See Notes 5 for further discussion. </context> | us-gaap:ReportingUnitPercentageOfFairValueInExcessOfCarryingAmount |
om 30 % to 106 %. Using both an income approach and market approach, we determined that there was no impairment during 2023. During 2022 and 2021, we did no t recognize any goodwill impairment from continuing operations other than a $ 1.7 million impairment in 2021 in connection with the sale of an oil and gas business in Brazil. See Notes 5 for further discussion. | text | 106 | percentItemType | text: <entity> 106 </entity> <entity type> percentItemType </entity type> <context> om 30 % to 106 %. Using both an income approach and market approach, we determined that there was no impairment during 2023. During 2022 and 2021, we did no t recognize any goodwill impairment from continuing operations other than a $ 1.7 million impairment in 2021 in connection with the sale of an oil and gas business in Brazil. See Notes 5 for further discussion. </context> | us-gaap:ReportingUnitPercentageOfFairValueInExcessOfCarryingAmount |
om 30 % to 106 %. Using both an income approach and market approach, we determined that there was no impairment during 2023. During 2022 and 2021, we did no t recognize any goodwill impairment from continuing operations other than a $ 1.7 million impairment in 2021 in connection with the sale of an oil and gas business in Brazil. See Notes 5 for further discussion. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> om 30 % to 106 %. Using both an income approach and market approach, we determined that there was no impairment during 2023. During 2022 and 2021, we did no t recognize any goodwill impairment from continuing operations other than a $ 1.7 million impairment in 2021 in connection with the sale of an oil and gas business in Brazil. See Notes 5 for further discussion. </context> | us-gaap:GoodwillImpairmentLoss |
Advertising costs are expensed as incurred. Advertising costs were $ 18.8 million, $ 13.7 million, and $ 10.3 million for 2023, 2022, and 2021, respectively. | text | 18.8 | monetaryItemType | text: <entity> 18.8 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred. Advertising costs were $ 18.8 million, $ 13.7 million, and $ 10.3 million for 2023, 2022, and 2021, respectively. </context> | us-gaap:AdvertisingExpense |
Advertising costs are expensed as incurred. Advertising costs were $ 18.8 million, $ 13.7 million, and $ 10.3 million for 2023, 2022, and 2021, respectively. | text | 13.7 | monetaryItemType | text: <entity> 13.7 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred. Advertising costs were $ 18.8 million, $ 13.7 million, and $ 10.3 million for 2023, 2022, and 2021, respectively. </context> | us-gaap:AdvertisingExpense |
Advertising costs are expensed as incurred. Advertising costs were $ 18.8 million, $ 13.7 million, and $ 10.3 million for 2023, 2022, and 2021, respectively. | text | 10.3 | monetaryItemType | text: <entity> 10.3 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred. Advertising costs were $ 18.8 million, $ 13.7 million, and $ 10.3 million for 2023, 2022, and 2021, respectively. </context> | us-gaap:AdvertisingExpense |
Deferred income taxes are recognized by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as net operating loss and tax credit carryforwards. Deferred tax assets generally represent future tax benefits to be received when these carryforwards can be applied against future taxable income or when expenses previously reported in our Consolidated Financial Statements become deductible for income tax purposes. A deferred tax asset valuation allowance is required when some portion or all of the deferred tax assets may not be realized. At December 31, 2023, the valuation allowance of $ 109.7 million was primarily related to net operating losses and capital losses that we do not currently expect to realize. | text | 109.7 | monetaryItemType | text: <entity> 109.7 </entity> <entity type> monetaryItemType </entity type> <context> Deferred income taxes are recognized by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as net operating loss and tax credit carryforwards. Deferred tax assets generally represent future tax benefits to be received when these carryforwards can be applied against future taxable income or when expenses previously reported in our Consolidated Financial Statements become deductible for income tax purposes. A deferred tax asset valuation allowance is required when some portion or all of the deferred tax assets may not be realized. At December 31, 2023, the valuation allowance of $ 109.7 million was primarily related to net operating losses and capital losses that we do not currently expect to realize. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
the services are performed depending on the terms of the arrangement. Our contract terms for support, maintenance, and professional services normally require payment within one year or less of when the services will be provided. As of December 31, 2023, total deferred revenue was $ 31.1 million, and of this amount, $ 23.7 million is expected to be recognized within the next twelve months, and the remaining $ 7.4 million is long-term and will be recognized over a period greater than twelve months. | text | 31.1 | monetaryItemType | text: <entity> 31.1 </entity> <entity type> monetaryItemType </entity type> <context> the services are performed depending on the terms of the arrangement. Our contract terms for support, maintenance, and professional services normally require payment within one year or less of when the services will be provided. As of December 31, 2023, total deferred revenue was $ 31.1 million, and of this amount, $ 23.7 million is expected to be recognized within the next twelve months, and the remaining $ 7.4 million is long-term and will be recognized over a period greater than twelve months. </context> | us-gaap:ContractWithCustomerLiability |
the services are performed depending on the terms of the arrangement. Our contract terms for support, maintenance, and professional services normally require payment within one year or less of when the services will be provided. As of December 31, 2023, total deferred revenue was $ 31.1 million, and of this amount, $ 23.7 million is expected to be recognized within the next twelve months, and the remaining $ 7.4 million is long-term and will be recognized over a period greater than twelve months. | text | 23.7 | monetaryItemType | text: <entity> 23.7 </entity> <entity type> monetaryItemType </entity type> <context> the services are performed depending on the terms of the arrangement. Our contract terms for support, maintenance, and professional services normally require payment within one year or less of when the services will be provided. As of December 31, 2023, total deferred revenue was $ 31.1 million, and of this amount, $ 23.7 million is expected to be recognized within the next twelve months, and the remaining $ 7.4 million is long-term and will be recognized over a period greater than twelve months. </context> | us-gaap:ContractWithCustomerLiabilityCurrent |
the services are performed depending on the terms of the arrangement. Our contract terms for support, maintenance, and professional services normally require payment within one year or less of when the services will be provided. As of December 31, 2023, total deferred revenue was $ 31.1 million, and of this amount, $ 23.7 million is expected to be recognized within the next twelve months, and the remaining $ 7.4 million is long-term and will be recognized over a period greater than twelve months. | text | 7.4 | monetaryItemType | text: <entity> 7.4 </entity> <entity type> monetaryItemType </entity type> <context> the services are performed depending on the terms of the arrangement. Our contract terms for support, maintenance, and professional services normally require payment within one year or less of when the services will be provided. As of December 31, 2023, total deferred revenue was $ 31.1 million, and of this amount, $ 23.7 million is expected to be recognized within the next twelve months, and the remaining $ 7.4 million is long-term and will be recognized over a period greater than twelve months. </context> | us-gaap:ContractWithCustomerLiabilityNoncurrent |
Service-type warranties represent $ 11.1 million of the deferred revenue balance at December 31, 2023, and of this amount $ 6.2 million is expected to be recognized in the next twelve months, and the remaining $ 4.9 million is long-term and will be recognized over a period greater than twelve months. | text | 11.1 | monetaryItemType | text: <entity> 11.1 </entity> <entity type> monetaryItemType </entity type> <context> Service-type warranties represent $ 11.1 million of the deferred revenue balance at December 31, 2023, and of this amount $ 6.2 million is expected to be recognized in the next twelve months, and the remaining $ 4.9 million is long-term and will be recognized over a period greater than twelve months. </context> | us-gaap:ContractWithCustomerLiability |
Service-type warranties represent $ 11.1 million of the deferred revenue balance at December 31, 2023, and of this amount $ 6.2 million is expected to be recognized in the next twelve months, and the remaining $ 4.9 million is long-term and will be recognized over a period greater than twelve months. | text | 6.2 | monetaryItemType | text: <entity> 6.2 </entity> <entity type> monetaryItemType </entity type> <context> Service-type warranties represent $ 11.1 million of the deferred revenue balance at December 31, 2023, and of this amount $ 6.2 million is expected to be recognized in the next twelve months, and the remaining $ 4.9 million is long-term and will be recognized over a period greater than twelve months. </context> | us-gaap:ContractWithCustomerLiabilityCurrent |
Service-type warranties represent $ 11.1 million of the deferred revenue balance at December 31, 2023, and of this amount $ 6.2 million is expected to be recognized in the next twelve months, and the remaining $ 4.9 million is long-term and will be recognized over a period greater than twelve months. | text | 4.9 | monetaryItemType | text: <entity> 4.9 </entity> <entity type> monetaryItemType </entity type> <context> Service-type warranties represent $ 11.1 million of the deferred revenue balance at December 31, 2023, and of this amount $ 6.2 million is expected to be recognized in the next twelve months, and the remaining $ 4.9 million is long-term and will be recognized over a period greater than twelve months. </context> | us-gaap:ContractWithCustomerLiabilityNoncurrent |
In August 2023, we acquired CloudRail GmbH (CloudRail) with cash on hand for $ 9.2 million, net of cash acquired.CloudRail, based in Mannheim, Germany, spec | text | 9.2 | monetaryItemType | text: <entity> 9.2 </entity> <entity type> monetaryItemType </entity type> <context> In August 2023, we acquired CloudRail GmbH (CloudRail) with cash on hand for $ 9.2 million, net of cash acquired.CloudRail, based in Mannheim, Germany, spec </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet |
In April 2023, we acquired Berthold Sichert GmbH (Sichert) with cash on hand for $ 97.5 million, net of cash acquired. Sichert, based in Berlin, Germany, designs and manufactures a portfolio of polycarbonate street cabinets utilized in outside plant passive optical networks (“PON”) and 5G networks. The results of Sichert have been included in our Consolidated Financial Statements from April 17, 2023 and are reported within the Enterprise Solutions segment. The Sichert acquisition was not material to our results of operations. The following table summarizes the estimated, preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands): | text | 97.5 | monetaryItemType | text: <entity> 97.5 </entity> <entity type> monetaryItemType </entity type> <context> In April 2023, we acquired Berthold Sichert GmbH (Sichert) with cash on hand for $ 97.5 million, net of cash acquired. Sichert, based in Berlin, Germany, designs and manufactures a portfolio of polycarbonate street cabinets utilized in outside plant passive optical networks (“PON”) and 5G networks. The results of Sichert have been included in our Consolidated Financial Statements from April 17, 2023 and are reported within the Enterprise Solutions segment. The Sichert acquisition was not material to our results of operations. The following table summarizes the estimated, preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands): </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet |
The above purchase price allocation is preliminary and subject to revision as additional information about the fair value of individual assets and liabilities becomes available. The preliminary measurement of receivables, intangible assets, deferred income taxes, and other assets and liabilities are subject to change. A change in the estimated fair value of the net assets acquired will change the amount of the purchase price allocable to goodwill. During 2023, we recorded measurement-period adjustments that increased goodwill by $ 4.4 million. The impact of these adjustments to the Consolidated Statements of Operations was immaterial. | text | 4.4 | monetaryItemType | text: <entity> 4.4 </entity> <entity type> monetaryItemType </entity type> <context> The above purchase price allocation is preliminary and subject to revision as additional information about the fair value of individual assets and liabilities becomes available. The preliminary measurement of receivables, intangible assets, deferred income taxes, and other assets and liabilities are subject to change. A change in the estimated fair value of the net assets acquired will change the amount of the purchase price allocable to goodwill. During 2023, we recorded measurement-period adjustments that increased goodwill by $ 4.4 million. The impact of these adjustments to the Consolidated Statements of Operations was immaterial. </context> | us-gaap:GoodwillPurchaseAccountingAdjustments |
The preliminary fair value of acquired receivables is $ 5.1 million, which is equivalent to its gross contractual amount. A single estimate of fair value results from a complex series of judgments about future events and uncertainties and relies heavily on estimates and assumptions. The judgments we have used in estimating the preliminary fair values assigned to each class of acquired assets and assumed liabilities could materially affect the results of our operations. | text | 5.1 | monetaryItemType | text: <entity> 5.1 </entity> <entity type> monetaryItemType </entity type> <context> The preliminary fair value of acquired receivables is $ 5.1 million, which is equivalent to its gross contractual amount. A single estimate of fair value results from a complex series of judgments about future events and uncertainties and relies heavily on estimates and assumptions. The judgments we have used in estimating the preliminary fair values assigned to each class of acquired assets and assumed liabilities could materially affect the results of our operations. </context> | us-gaap:BusinessCombinationAcquiredReceivablesFairValue |
On February 22, 2022, we sold Tripwire for gross cash consideration of $ 350 million. T | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> On February 22, 2022, we sold Tripwire for gross cash consideration of $ 350 million. T </context> | us-gaap:ProceedsFromDivestitureOfBusinesses |
We recognized a loss on disposal of discontinued operations, net of tax of $ 9.2 million during 2022. The following table summarizes the operating results of the Tripwire disposal group up to the February 22, 2022 disposal date: | text | 9.2 | monetaryItemType | text: <entity> 9.2 </entity> <entity type> monetaryItemType </entity type> <context> We recognized a loss on disposal of discontinued operations, net of tax of $ 9.2 million during 2022. The following table summarizes the operating results of the Tripwire disposal group up to the February 22, 2022 disposal date: </context> | us-gaap:DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax |
disposal group did not have any capital expenditures and recognized share-based compensation expense of $ 0.2 million. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> disposal group did not have any capital expenditures and recognized share-based compensation expense of $ 0.2 million. </context> | us-gaap:CapitalExpenditureDiscontinuedOperations |
res of $ 6.1 million and recognized share-based compensation expense of $ 2.2 million | text | 6.1 | monetaryItemType | text: <entity> 6.1 </entity> <entity type> monetaryItemType </entity type> <context> res of $ 6.1 million and recognized share-based compensation expense of $ 2.2 million </context> | us-gaap:CapitalExpenditureDiscontinuedOperations |
During 2021, we sold an oil and gas cable business in Brazil that met all of the criteria to classify the assets and liabilities of this business, formerly part of the Industrial Automation Solutions segment, as held for sale. At such time, the carrying value of the disposal group exceeded the fair value less costs to sell, which we determined based upon the expected sale price, by $ 3.4 million. Therefore, we recognized an impairment charge of $ 3.4 million (including a goodwill impairment of $ 1.7 million and intangible asset impairment of $ 1.0 million) in 2021. The impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment. We completed the sale of the oil and gas cable business in Brazil during 2021 for $ 10.9 million, net of cash delivered with the business. | text | 3.4 | monetaryItemType | text: <entity> 3.4 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we sold an oil and gas cable business in Brazil that met all of the criteria to classify the assets and liabilities of this business, formerly part of the Industrial Automation Solutions segment, as held for sale. At such time, the carrying value of the disposal group exceeded the fair value less costs to sell, which we determined based upon the expected sale price, by $ 3.4 million. Therefore, we recognized an impairment charge of $ 3.4 million (including a goodwill impairment of $ 1.7 million and intangible asset impairment of $ 1.0 million) in 2021. The impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment. We completed the sale of the oil and gas cable business in Brazil during 2021 for $ 10.9 million, net of cash delivered with the business. </context> | us-gaap:AssetImpairmentCharges |
During 2021, we sold an oil and gas cable business in Brazil that met all of the criteria to classify the assets and liabilities of this business, formerly part of the Industrial Automation Solutions segment, as held for sale. At such time, the carrying value of the disposal group exceeded the fair value less costs to sell, which we determined based upon the expected sale price, by $ 3.4 million. Therefore, we recognized an impairment charge of $ 3.4 million (including a goodwill impairment of $ 1.7 million and intangible asset impairment of $ 1.0 million) in 2021. The impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment. We completed the sale of the oil and gas cable business in Brazil during 2021 for $ 10.9 million, net of cash delivered with the business. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we sold an oil and gas cable business in Brazil that met all of the criteria to classify the assets and liabilities of this business, formerly part of the Industrial Automation Solutions segment, as held for sale. At such time, the carrying value of the disposal group exceeded the fair value less costs to sell, which we determined based upon the expected sale price, by $ 3.4 million. Therefore, we recognized an impairment charge of $ 3.4 million (including a goodwill impairment of $ 1.7 million and intangible asset impairment of $ 1.0 million) in 2021. The impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment. We completed the sale of the oil and gas cable business in Brazil during 2021 for $ 10.9 million, net of cash delivered with the business. </context> | us-gaap:GoodwillImpairmentLoss |
During 2021, we sold an oil and gas cable business in Brazil that met all of the criteria to classify the assets and liabilities of this business, formerly part of the Industrial Automation Solutions segment, as held for sale. At such time, the carrying value of the disposal group exceeded the fair value less costs to sell, which we determined based upon the expected sale price, by $ 3.4 million. Therefore, we recognized an impairment charge of $ 3.4 million (including a goodwill impairment of $ 1.7 million and intangible asset impairment of $ 1.0 million) in 2021. The impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment. We completed the sale of the oil and gas cable business in Brazil during 2021 for $ 10.9 million, net of cash delivered with the business. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we sold an oil and gas cable business in Brazil that met all of the criteria to classify the assets and liabilities of this business, formerly part of the Industrial Automation Solutions segment, as held for sale. At such time, the carrying value of the disposal group exceeded the fair value less costs to sell, which we determined based upon the expected sale price, by $ 3.4 million. Therefore, we recognized an impairment charge of $ 3.4 million (including a goodwill impairment of $ 1.7 million and intangible asset impairment of $ 1.0 million) in 2021. The impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment. We completed the sale of the oil and gas cable business in Brazil during 2021 for $ 10.9 million, net of cash delivered with the business. </context> | us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill |
During 2021, we sold an oil and gas cable business in Brazil that met all of the criteria to classify the assets and liabilities of this business, formerly part of the Industrial Automation Solutions segment, as held for sale. At such time, the carrying value of the disposal group exceeded the fair value less costs to sell, which we determined based upon the expected sale price, by $ 3.4 million. Therefore, we recognized an impairment charge of $ 3.4 million (including a goodwill impairment of $ 1.7 million and intangible asset impairment of $ 1.0 million) in 2021. The impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment. We completed the sale of the oil and gas cable business in Brazil during 2021 for $ 10.9 million, net of cash delivered with the business. | text | 10.9 | monetaryItemType | text: <entity> 10.9 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we sold an oil and gas cable business in Brazil that met all of the criteria to classify the assets and liabilities of this business, formerly part of the Industrial Automation Solutions segment, as held for sale. At such time, the carrying value of the disposal group exceeded the fair value less costs to sell, which we determined based upon the expected sale price, by $ 3.4 million. Therefore, we recognized an impairment charge of $ 3.4 million (including a goodwill impairment of $ 1.7 million and intangible asset impairment of $ 1.0 million) in 2021. The impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment. We completed the sale of the oil and gas cable business in Brazil during 2021 for $ 10.9 million, net of cash delivered with the business. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
During 2020, we sold Grass Valley to Black Dragon Capital. The sale included deferred consideration consisting of a $ 175.0 million seller’s note, up to $ 88 million in PIK (payment-in-kind) interest on the seller’s note, and $ 178.0 million in potential earnout payments. Based upon a third party valuation specialist using certain assumptions in a Monte Carlo analysis, the estimated fair value of the seller’s note was $ 34.9 million. During 2021, we sold the seller's note to a third party for $ 62.0 million and recognized a gain on sale of $ 27.0 million. We accounted for the earnout under a loss recovery approach and did not record an asset as of the disposal date. Any subsequent recognition of an earnout will be based on the gain contingency guidance. | text | 88 | monetaryItemType | text: <entity> 88 </entity> <entity type> monetaryItemType </entity type> <context> During 2020, we sold Grass Valley to Black Dragon Capital. The sale included deferred consideration consisting of a $ 175.0 million seller’s note, up to $ 88 million in PIK (payment-in-kind) interest on the seller’s note, and $ 178.0 million in potential earnout payments. Based upon a third party valuation specialist using certain assumptions in a Monte Carlo analysis, the estimated fair value of the seller’s note was $ 34.9 million. During 2021, we sold the seller's note to a third party for $ 62.0 million and recognized a gain on sale of $ 27.0 million. We accounted for the earnout under a loss recovery approach and did not record an asset as of the disposal date. Any subsequent recognition of an earnout will be based on the gain contingency guidance. </context> | us-gaap:PaidInKindInterest |
During 2020, we sold Grass Valley to Black Dragon Capital. The sale included deferred consideration consisting of a $ 175.0 million seller’s note, up to $ 88 million in PIK (payment-in-kind) interest on the seller’s note, and $ 178.0 million in potential earnout payments. Based upon a third party valuation specialist using certain assumptions in a Monte Carlo analysis, the estimated fair value of the seller’s note was $ 34.9 million. During 2021, we sold the seller's note to a third party for $ 62.0 million and recognized a gain on sale of $ 27.0 million. We accounted for the earnout under a loss recovery approach and did not record an asset as of the disposal date. Any subsequent recognition of an earnout will be based on the gain contingency guidance. | text | 34.9 | monetaryItemType | text: <entity> 34.9 </entity> <entity type> monetaryItemType </entity type> <context> During 2020, we sold Grass Valley to Black Dragon Capital. The sale included deferred consideration consisting of a $ 175.0 million seller’s note, up to $ 88 million in PIK (payment-in-kind) interest on the seller’s note, and $ 178.0 million in potential earnout payments. Based upon a third party valuation specialist using certain assumptions in a Monte Carlo analysis, the estimated fair value of the seller’s note was $ 34.9 million. During 2021, we sold the seller's note to a third party for $ 62.0 million and recognized a gain on sale of $ 27.0 million. We accounted for the earnout under a loss recovery approach and did not record an asset as of the disposal date. Any subsequent recognition of an earnout will be based on the gain contingency guidance. </context> | us-gaap:DebtInstrumentFairValue |
We are organized around two global businesses: Enterprise Solutions and Industrial Automation Solutions. Each of the global businesses represents a reportable segment. The segments design, manufacture, and market a portfolio of signal transmission solutions for mission critical applications used in a variety of end markets. We sell the products manufactured by our segments through distributors or directly to systems integrators, original equipment manufacturers (OEMs), end-users, and installers. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> We are organized around two global businesses: Enterprise Solutions and Industrial Automation Solutions. Each of the global businesses represents a reportable segment. The segments design, manufacture, and market a portfolio of signal transmission solutions for mission critical applications used in a variety of end markets. We sell the products manufactured by our segments through distributors or directly to systems integrators, original equipment manufacturers (OEMs), end-users, and installers. </context> | us-gaap:NumberOfReportableSegments |
In 2023, we incurred $ 4.1 million for lease guarantees associated with the Grass Valley disposal (see Note 12), $ 1.5 million related to fair value adjustments of acquired inventory and other assets, and $ 0.6 million of net losses | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, we incurred $ 4.1 million for lease guarantees associated with the Grass Valley disposal (see Note 12), $ 1.5 million related to fair value adjustments of acquired inventory and other assets, and $ 0.6 million of net losses </context> | us-gaap:BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentInventory |
In 2023, we incurred $ 4.1 million for lease guarantees associated with the Grass Valley disposal (see Note 12), $ 1.5 million related to fair value adjustments of acquired inventory and other assets, and $ 0.6 million of net losses | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, we incurred $ 4.1 million for lease guarantees associated with the Grass Valley disposal (see Note 12), $ 1.5 million related to fair value adjustments of acquired inventory and other assets, and $ 0.6 million of net losses </context> | us-gaap:GainLossOnSaleOfBusiness |
In 2022, we incurred $ 10.1 million for lease guarantees associated with the Grass Valley disposal, $ 2.2 million related to fair value adjustments of acquired inventory and other assets, and gains of $ 4.5 million on collections from previously written off receivables associated with the sale of Grass Valley. | text | 2.2 | monetaryItemType | text: <entity> 2.2 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we incurred $ 10.1 million for lease guarantees associated with the Grass Valley disposal, $ 2.2 million related to fair value adjustments of acquired inventory and other assets, and gains of $ 4.5 million on collections from previously written off receivables associated with the sale of Grass Valley. </context> | us-gaap:BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentInventory |
In 2022, we incurred $ 10.1 million for lease guarantees associated with the Grass Valley disposal, $ 2.2 million related to fair value adjustments of acquired inventory and other assets, and gains of $ 4.5 million on collections from previously written off receivables associated with the sale of Grass Valley. | text | 4.5 | monetaryItemType | text: <entity> 4.5 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we incurred $ 10.1 million for lease guarantees associated with the Grass Valley disposal, $ 2.2 million related to fair value adjustments of acquired inventory and other assets, and gains of $ 4.5 million on collections from previously written off receivables associated with the sale of Grass Valley. </context> | us-gaap:ProceedsFromRecoveriesOfLoanPreviouslyChargedOff |
In 2021, we collected $ 2.2 million of receivables associated with the sale of Grass Valley and acquisition of SPC that were previously written off, reduced the Opterna earn-out liability by $ 5.8 million, recognized cost of sales of $ 2.3 million related to adjustments of acquired inventory to fair value, and recognized a $ 0.6 million loss on the sale of tangible assets. | text | 2.2 | monetaryItemType | text: <entity> 2.2 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we collected $ 2.2 million of receivables associated with the sale of Grass Valley and acquisition of SPC that were previously written off, reduced the Opterna earn-out liability by $ 5.8 million, recognized cost of sales of $ 2.3 million related to adjustments of acquired inventory to fair value, and recognized a $ 0.6 million loss on the sale of tangible assets. </context> | us-gaap:ProceedsAccountsReceivablePreviouslyWrittenOffRecovery |
In 2021, we collected $ 2.2 million of receivables associated with the sale of Grass Valley and acquisition of SPC that were previously written off, reduced the Opterna earn-out liability by $ 5.8 million, recognized cost of sales of $ 2.3 million related to adjustments of acquired inventory to fair value, and recognized a $ 0.6 million loss on the sale of tangible assets. | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we collected $ 2.2 million of receivables associated with the sale of Grass Valley and acquisition of SPC that were previously written off, reduced the Opterna earn-out liability by $ 5.8 million, recognized cost of sales of $ 2.3 million related to adjustments of acquired inventory to fair value, and recognized a $ 0.6 million loss on the sale of tangible assets. </context> | us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment |
In 2021, we recognized a $ 3.6 million impairment on assets held and used and a $ 5.7 million impairment on assets held for sale | text | 3.6 | monetaryItemType | text: <entity> 3.6 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we recognized a $ 3.6 million impairment on assets held and used and a $ 5.7 million impairment on assets held for sale </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
In 2021, we recognized a $ 3.6 million impairment on assets held and used and a $ 5.7 million impairment on assets held for sale | text | 5.7 | monetaryItemType | text: <entity> 5.7 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we recognized a $ 3.6 million impairment on assets held and used and a $ 5.7 million impairment on assets held for sale </context> | us-gaap:ImpairmentOfLongLivedAssetsToBeDisposedOf |
During 2023, we sold certain real estate in Canada for $ 13.8 million, net of transaction costs and recognized a $ 12.1 million pre-tax gain on sale. During 2022, we sold certain real estate in the United States for $ 42.2 million, net of transaction costs and recognized a $ 37.9 million pre-tax gain on sale. See Note 11, | text | 13.8 | monetaryItemType | text: <entity> 13.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold certain real estate in Canada for $ 13.8 million, net of transaction costs and recognized a $ 12.1 million pre-tax gain on sale. During 2022, we sold certain real estate in the United States for $ 42.2 million, net of transaction costs and recognized a $ 37.9 million pre-tax gain on sale. See Note 11, </context> | us-gaap:ProceedsFromSaleOfRealEstate |
During 2023, we sold certain real estate in Canada for $ 13.8 million, net of transaction costs and recognized a $ 12.1 million pre-tax gain on sale. During 2022, we sold certain real estate in the United States for $ 42.2 million, net of transaction costs and recognized a $ 37.9 million pre-tax gain on sale. See Note 11, | text | 12.1 | monetaryItemType | text: <entity> 12.1 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold certain real estate in Canada for $ 13.8 million, net of transaction costs and recognized a $ 12.1 million pre-tax gain on sale. During 2022, we sold certain real estate in the United States for $ 42.2 million, net of transaction costs and recognized a $ 37.9 million pre-tax gain on sale. See Note 11, </context> | us-gaap:GainsLossesOnSalesOfInvestmentRealEstate |
During 2023, we sold certain real estate in Canada for $ 13.8 million, net of transaction costs and recognized a $ 12.1 million pre-tax gain on sale. During 2022, we sold certain real estate in the United States for $ 42.2 million, net of transaction costs and recognized a $ 37.9 million pre-tax gain on sale. See Note 11, | text | 42.2 | monetaryItemType | text: <entity> 42.2 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold certain real estate in Canada for $ 13.8 million, net of transaction costs and recognized a $ 12.1 million pre-tax gain on sale. During 2022, we sold certain real estate in the United States for $ 42.2 million, net of transaction costs and recognized a $ 37.9 million pre-tax gain on sale. See Note 11, </context> | us-gaap:ProceedsFromSaleOfRealEstate |
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