AMETEK (AME) 10-K 18 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Jan. 29, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-12981
Entity Registrant Name	AMETEK, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	14-1682544
Entity Address, Address Line One	1100 Cassatt Road
Entity Address, City or Town	Berwyn
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19312-1177
City Area Code	610
Local Phone Number	647-2121
Title of 12(b) Security	Common Stock
Trading Symbol	AME
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 20.5
Entity Common Stock, Shares Outstanding		230,563,891
Documents Incorporated by Reference	Documents Incorporated by ReferencePart III incorporates information by reference from the Proxy Statement for the Annual Meeting of Stockholders on May 6, 2021
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001037868

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 4,540,029	$ 5,158,557	$ 4,845,872
Cost of sales	2,996,515	3,370,897	3,186,310
Selling, general and administrative	515,630	610,280	584,022
Total operating expenses	3,512,145	3,981,177	3,770,332
Operating income	1,027,884	1,177,380	1,075,540
Interest expense	(86,062)	(88,481)	(82,180)
Other income (expense), net	140,487	(19,151)	(5,615)
Total	1,082,309	1,069,748	987,745
Provision for income taxes	209,870	208,451	209,812
Net income	$ 872,439	$ 861,297	$ 777,933
Basic earnings per share (in USD per share)	$ 3.80	$ 3.78	$ 3.37
Diluted earnings per share (in USD per share)	$ 3.77	$ 3.75	$ 3.34
Weighted average common shares outstanding:
Basic shares (in shares)	229,435	227,759	230,823
Diluted shares (in shares)	231,150	229,395	232,712

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 872,439	$ 861,297	$ 777,933
Foreign currency translation:
Translation adjustments	64,521	23,692	(72,112)
Change in long-term intercompany notes	16,695	(5,999)	(16,569)
Net investment hedge instruments gain (loss), net of tax of $14,787, $581 and ($12,384) in 2020, 2019 and 2018, respectively	(45,716)	(1,803)
Net investment hedge instruments gain (loss), net of tax of $14,787, $581 and ($12,384) in 2020, 2019 and 2018, respectively			38,452
Defined benefit pension plans:
Net actuarial loss, net of tax of $8,637, $767 and ($18,825) in 2020, 2019 and 2018, respectively	(18,733)	(10,522)	(75,253)
Amortization of net actuarial loss, net of tax of ($3,539), ($3,505) and ($2,716) in 2020, 2019 and 2018, respectively	11,940	12,180	9,313
Amortization of prior service costs, net of tax of $7, ($83) and $1,154 in 2020, 2019 and 2018, respectively	(36)	401	(5,639)
Unrealized holding gain (loss) on available-for-sale securities:
Unrealized gain (loss), net of tax	0	0	(104)
Other comprehensive income (loss)	28,671	17,949	(121,912)
Total comprehensive income	$ 901,110	$ 879,246	$ 656,021

Consolidated Statement of Com_2

Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Tax benefit (expense) from investment hedge instruments	$ 14,787,000
Tax related to investment hedge instruments gain (loss)		$ 581,000	$ (12,384,000)
Tax benefit (expense) from change in pension plans	8,637,000	767,000	(18,825,000)
Tax related to amortization of net actuarial loss	(3,539,000)	(3,505,000)	(2,716,000)
Tax related to amortization of prior service costs	$ 7,000	$ (83,000)	$ 1,154,000

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,212,822	$ 393,030
Receivables	597,472	744,760
Inventories, net	559,171	624,567
Other current assets	153,005	263,414
Total current assets	2,522,470	2,025,771
Property, plant and equipment, net	526,530	548,908
Right of use assets, net	167,233	179,679
Goodwill	4,224,906	4,047,539
Other intangibles, net	2,623,719	2,762,872
Investments and other assets	292,625	279,790
Total assets	10,357,483	9,844,559
Current liabilities:
Short-term borrowings and current portion of long-term debt, net	132,284	497,449
Accounts payable	360,370	377,219
Customer advanced payments	194,633	156,818
Income taxes payable	38,896	30,292
Accrued liabilities and other	349,732	364,080
Total current liabilities	1,075,915	1,425,858
Long-term debt, net	2,281,441	2,271,292
Deferred income taxes	533,478	536,140
Other long-term liabilities	517,303	495,777
Total liabilities	4,408,137	4,729,067
Stockholders’ equity:
Preferred stock,$0.01 par value; authorized 5,000,000 shares; none issued	0	0
Common stock, $0.01 par value; authorized 800,000,000 shares; issued: 2020 – 266,746,248 shares; 2019 – 265,583,732 shares	2,676	2,662
Capital in excess of par value	921,752	832,821
Retained earnings	7,094,656	6,387,612
Accumulated other comprehensive loss	(504,468)	(533,139)
Treasury stock: 2020 – 36,227,061 shares; 2019 – 36,500,908 shares	(1,565,270)	(1,574,464)
Total stockholders’ equity	5,949,346	5,115,492
Total liabilities and stockholders’ equity	$ 10,357,483	$ 9,844,559

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	266,746,248	265,583,732
Treasury stock, shares	36,227,061	36,500,908

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Capital stock	Capital in excess of par value	Retained earnings	Retained earningsCumulative Effect, Period of Adoption, Adjustment	Foreign currency translation	Defined benefit pension plans	Unrealized holding gain (loss) on available-for-sale securities	Accumulated other comprehensive (loss) income	Treasury stock
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Balance at the beginning of the year at Dec. 31, 2017		$ 2,631	$ 660,894	$ 5,002,419		$ (251,909)	$ (177,371)	$ 104		$ (1,209,135)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued		9
Issuance of common stock under employee stock plans			18,534							6,629
Share-based compensation costs			27,315
Net income	$ 777,933			777,933
Cash dividends paid				(128,911)
Other				2,370
Translation adjustments	(72,112)					(72,112)
Change in long-term intercompany notes						(16,569)
Net investment hedge instruments (loss) gain, net of tax of $14,787, $581 and ($12,384) in 2020, 2019 and 2018, respectively	(38,452)					38,452
Net actuarial loss, net of tax of $8,637, $767 and ($18,825) in 2020, 2019 and 2018, respectively	(75,253)						(75,253)
Amortization of net actuarial loss, net of tax of ($3,539), ($3,505) and ($2,716) in 2020, 2019 and 2018, respectively	9,313						9,313
Amortization of prior service costs, net of tax of $7, ($83) and $1,154 in 2020, 2019 and 2018, respectively	(5,639)						(5,639)
Increase (decrease) during the year, net of tax	(104)							(104)
Purchase of treasury stock										(367,678)
Balance at the end of the year at Dec. 31, 2018	$ 4,241,922	2,640	706,743	5,653,811	$ 0	(302,138)	(248,950)	0	$ (551,088)	(1,570,184)
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued		22
Issuance of common stock under employee stock plans			85,684							7,644
Share-based compensation costs			40,394
Net income	$ 861,297			861,297
Cash dividends paid				(127,496)
Other				0
Translation adjustments	23,692					23,692
Change in long-term intercompany notes						(5,999)
Net investment hedge instruments (loss) gain, net of tax of $14,787, $581 and ($12,384) in 2020, 2019 and 2018, respectively						(1,803)
Net actuarial loss, net of tax of $8,637, $767 and ($18,825) in 2020, 2019 and 2018, respectively	(10,522)						(10,522)
Amortization of net actuarial loss, net of tax of ($3,539), ($3,505) and ($2,716) in 2020, 2019 and 2018, respectively	12,180						12,180
Amortization of prior service costs, net of tax of $7, ($83) and $1,154 in 2020, 2019 and 2018, respectively	401						401
Increase (decrease) during the year, net of tax	0							0
Purchase of treasury stock	(11,900)									(11,924)
Balance at the end of the year at Dec. 31, 2019	$ 5,115,492	2,662	832,821	6,387,612	0	(286,248)	(246,891)	0	(533,139)	(1,574,464)
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued		14
Issuance of common stock under employee stock plans			47,366							13,879
Share-based compensation costs			41,565
Net income	$ 872,439			872,439
Cash dividends paid				(165,035)
Other				0
Translation adjustments	64,521					64,521
Change in long-term intercompany notes						16,695
Net investment hedge instruments (loss) gain, net of tax of $14,787, $581 and ($12,384) in 2020, 2019 and 2018, respectively						(45,716)
Net actuarial loss, net of tax of $8,637, $767 and ($18,825) in 2020, 2019 and 2018, respectively	(18,733)						(18,733)
Amortization of net actuarial loss, net of tax of ($3,539), ($3,505) and ($2,716) in 2020, 2019 and 2018, respectively	11,940						11,940
Amortization of prior service costs, net of tax of $7, ($83) and $1,154 in 2020, 2019 and 2018, respectively	(36)						(36)
Increase (decrease) during the year, net of tax	0							0
Purchase of treasury stock	(4,700)									(4,685)
Balance at the end of the year at Dec. 31, 2020	$ 5,949,346	$ 2,676	$ 921,752	$ 7,094,656	$ (360)	$ (250,748)	$ (253,720)	$ 0	$ (504,468)	$ (1,565,270)

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Tax benefit (expense) from investment hedge instruments	$ 14,787,000
Tax related to investment hedge instruments gain (loss)		$ 581,000	$ (12,384,000)
Tax benefit (expense) from change in pension plans	8,637,000	767,000	(18,825,000)
Tax related to amortization of net actuarial loss	(3,539,000)	(3,505,000)	(2,716,000)
Tax related to amortization of prior service costs	7,000	(83,000)	1,154,000
Total stockholders’ equity	$ 5,949,346,000	$ 5,115,492,000	$ 4,241,922,000

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net income	$ 872,439	$ 861,297	$ 777,933
Adjustments to reconcile net income to total operating activities:
Depreciation and amortization	255,275	234,042	199,490
Deferred income taxes	1,839	19,380	(73,682)
Share-based compensation expense	41,565	40,394	27,315
Gain on sale of business	(141,020)	0	0
(Gain) loss on sale of facilities	(7,523)	(5,332)	127
Changes in assets and liabilities, net of acquisitions:
Decrease (increase) in receivables	163,471	14,398	(13,383)
Decrease (increase) in inventories and other current assets	77,448	16,410	(59,472)
Increase (decrease) in payables, accruals and income taxes	7,017	(58,932)	36,547
Increase (decrease) in other long-term liabilities	20,430	(16,845)	42,814
Pension contributions	(9,527)	(5,609)	(5,063)
Other, net	(434)	15,219	(7,108)
Total operating activities	1,280,980	1,114,422	925,518
Investing activities:
Additions to property, plant and equipment	(74,199)	(102,346)	(82,076)
Purchases of businesses, net of cash acquired	(116,509)	(1,061,945)	(1,129,305)
Proceeds from sale of business	245,311	0	0
Proceeds from sale of facilities	9,508	11,306	2,570
Other, net	(2,481)	2,060	(1,233)
Total investing activities	61,630	(1,150,925)	(1,210,044)
Financing activities:
Net change in short-term borrowings	(328,003)	130,705	258,349
Proceeds from long-term borrowings	0	100,000	560,050
Repayments of long-term borrowings	(102,947)	(100,000)	(305,000)
Repurchases of common stock	(4,685)	(11,924)	(367,678)
Cash dividends paid	(165,035)	(127,496)	(128,911)
Acquisition contingent consideration	0	(3,000)	(25,500)
Proceeds from stock option exercises	64,903	90,388	30,021
Other, net	(3,669)	(5,760)	(8,291)
Total financing activities	(539,436)	72,913	13,040
Effect of exchange rate changes on cash and cash equivalents	16,618	2,645	(20,839)
Increase (decrease) in cash and cash equivalents	819,792	39,055	(292,325)
Cash and cash equivalents:
Beginning of year	393,030	353,975	646,300
End of year	$ 1,212,822	$ 393,030	$ 353,975

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Consolidation The accompanying consolidated financial statements reflect the results of operations, financial position and cash flows of AMETEK, Inc. (the “Company”), and include the accounts of the Company and subsidiaries, after elimination of all intercompany transactions in the consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and assumptions. Cash Equivalents, Securities and Other Investments All highly liquid investments with maturities of three months or less when purchased are considered cash equivalents. Accounts Receivable The Company maintains allowances for estimated credit losses resulting from the inability of customers to meet their financial obligations to the Company. The Company recognizes an allowance for credit losses, on all accounts receivable and contract assets, which considers risk of future credit losses based on factors such as historical experience, contract terms, as well as general and market business conditions, country, and political risk. Balances are written off when considered uncollectible. Bad debt expense was $3.6 million in 2020, $2.8 million in 2019 and $1.7 million in 2018. At December 31, 2020 and 2019, the allowance for estimated credit losses was $12.7 million and $11.2 million, respectively. Inventories The Company uses the first-in, first-out (“FIFO”) method of accounting, which approximates current replacement cost, for approximately 88% of its inventories at December 31, 2020. The last-in, first-out (“LIFO”) method of accounting is used to determine cost for the remaining 12% of the Company’s inventory at December 31, 2020. For inventories where cost is determined by the LIFO method, the FIFO value would have been $22.8 million and $23.4 million higher than the LIFO value reported in the consolidated balance sheet at December 31, 2020 and 2019, respectively. The Company provides estimated inventory reserves for slow-moving and obsolete inventory based on current assessments about future demand, market conditions, customers who may be experiencing financial difficulties and related management initiatives. Business Combinations The Company allocates the purchase price of an acquired company, including when applicable, the acquisition date fair value of contingent consideration between tangible and intangible assets acquired and liabilities assumed from the acquired business based on their estimated fair values, with the residual of the purchase price recorded as goodwill. The results of operations of the acquired business are included in the Company’s operating results from the date of acquisition. Property, Plant and Equipment Property, plant and equipment are stated at cost. Expenditures for additions to plant facilities, or that extend their useful lives, are capitalized. The cost of minor tools, jigs and dies, and maintenance and repairs is charged to expense as incurred. Depreciation of plant and equipment is calculated principally on a straight-line basis over the estimated useful lives of the related assets. The range of lives for depreciable assets is generally three five Depreciation expense was $101.3 million, $101.4 million and $85.4 million for the years ended December 31, 2020, 2019 and 2018, respectively. Goodwill and Other Intangible Assets Goodwill and other intangible assets with indefinite lives, primarily trademarks and trade names, are not amortized; rather, they are tested for impairment at least annually. The Company identifies its reporting units at the component level, which is one level below its operating segments. Generally, goodwill arises from acquisitions of specific operating companies and is assigned to the reporting unit in which the operating company resides. The Company’s reporting units are divisions that are one level below its operating segments and for which discrete financial information is prepared and regularly reviewed by segment management. The Company principally relies on a discounted cash flow analysis to determine the fair value of each reporting unit, which considers forecasted cash flows discounted at an appropriate discount rate. The Company believes that market participants would use a discounted cash flow analysis to determine the fair value of its reporting units in a sale transaction. The annual goodwill impairment test requires the Company to make several assumptions and estimates concerning future levels of revenue growth, operating margins, depreciation, amortization and working capital requirements, which are based on the Company’s long-range plan and are considered level 3 inputs. The Company’s long-range plan is updated as part of its annual planning process and is reviewed and approved by management. The discount rate is an estimate of the overall after-tax rate of return required by a market participant whose weighted average cost of capital includes both equity and debt, including a risk premium. While the Company uses the best available information to prepare its cash flow and discount rate assumptions, actual future cash flows or market conditions could differ significantly resulting in future impairment charges related to recorded goodwill balances. The impairment test for indefinite-lived intangibles other than goodwill (primarily trademarks and trade names) consists of a comparison of the fair value of the indefinite-lived intangible asset to the carrying value of the asset as of the impairment testing date. The Company estimates the fair value of its indefinite-lived intangibles using the relief from royalty method using level 3 inputs for revenue growth rates and royalty rates. The fair value derived from the relief from royalty method is measured as the discounted cash flow savings realized from owning such trademarks and trade names and not having to pay a royalty for their use. The Company completed its required annual impairment tests in the fourth quarter of 2020, 2019 and 2018 and determined that the carrying values of the Company’s goodwill were not impaired. The Company completed its required annual impairment tests in the fourth quarter of 2020, 2019 and 2018 and determined that the carrying values of the Company’s other intangible assets with indefinite lives were not impaired. Other intangible assets with finite lives are evaluated for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of other intangible assets with finite lives is considered impaired when the total projected undiscounted cash flows from the asset group are less than the carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of those assets. Fair value is determined primarily using present value techniques based on projected cash flows from the asset group. Intangible assets, other than goodwill, with definite lives are amortized over their estimated useful lives. Patents and technology are being amortized over useful lives of nine ten Financial Instruments and Foreign Currency Translation Assets and liabilities of foreign operations are translated using exchange rates in effect at the balance sheet date and their results of operations are translated using average exchange rates for the year. Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Exchange gains and losses from those transactions are included in operating results for the year. The Company makes infrequent use of derivative financial instruments. Forward contracts are entered into from time to time to hedge certain inventory purchases, export sales, debt or foreign currency transactions, thereby minimizing the Company’s exposure to raw material commodity price or foreign currency fluctuation. In instances where transactions are designated as hedges of an underlying item, the gains and losses on those transactions are included in accumulated other comprehensive income within stockholders’ equity to the extent they are effective as hedges. An evaluation of hedge effectiveness is performed by the Company on an ongoing basis and any changes in the hedge are made as appropriate. Revenue Recognition Revenue is derived from sales of products and services. The Company’s products and services are marketed and sold worldwide through two operating groups: EIG and EMG. See Note 15 Descriptive Information about Reportable Segments. The majority of the Company’s revenues on product sales were recognized at a point in time when the customer obtains control of the product. The transfer in control of the product to the customer was typically evidenced by one or more of the following: the customer having legal title to the product, the Company’s present right to payment, the customer’s physical possession of the product, the customer accepting the product, or the customer having the benefits of ownership or risk of loss. For a small percentage of sales where title and risk of loss transfers at the point of delivery, the Company recognized revenue upon delivery to the customer, which is the point that control transferred, assuming all other criteria for revenue recognition were met. Research and Development Research and development costs are included in Cost of sales as incurred and were $158.9 million in 2020, $161.9 million in 2019 and $141.0 million in 2018. Shipping and Handling Costs Shipping and handling costs are included in Cost of sales and were $56.8 million in 2020, $66.7 million in 2019 and $62.7 million in 2018. Share-Based Compensation The Company expenses the fair value of share-based awards made under its share-based plans in the consolidated financial statements over their requisite service period of the grants. Income Taxes The Company’s process of providing for income taxes and determining the related balance sheet accounts requires management to assess uncertainties, make judgments regarding outcomes and utilize estimates. The Company conducts a broad range of operations around the world and is therefore subject to complex tax regulations in numerous international taxing jurisdictions, resulting at times in tax audits, disputes and potential litigation, the outcome of which is uncertain. Management must make judgments currently about such uncertainties and determine estimates of the Company’s tax assets and liabilities. To the extent the final outcome differs, future adjustments to the Company’s tax assets and liabilities may be necessary. The Company recognizes interest and penalties accrued related to uncertain tax positions in income tax expense. The Company assesses the realizability of its deferred tax assets, taking into consideration the Company’s forecast of future taxable income, available net operating loss carryforwards and available tax planning strategies that could be implemented to realize the deferred tax assets. Based on this assessment, management must evaluate the need for, and amount of, valuation allowances against the Company’s deferred tax assets. To the extent facts and circumstances change in the future, adjustments to the valuation allowances may be required. The Company assesses the uncertainty in its tax positions, by applying a minimum recognition threshold which a tax position is required to meet before a tax benefit is recognized in the financial statements. Once the minimum threshold is met, using a more likely than not standard, a series of probability estimates is made for each item to properly measure and record a tax benefit. The tax benefit recorded is generally equal to the highest probable outcome that is more than 50% likely to be realized after full disclosure and resolution of a tax examination. The underlying probabilities are determined based on the best available objective evidence such as recent tax audit outcomes, published guidance, external expert opinion, or by analogy to the outcome of similar issues in the past. There can be no assurance that these estimates will ultimately be realized given continuous changes in tax policy, legislation and audit practice. The Company recognizes interest and penalties accrued related to uncertain tax positions in income tax expense. Pensions The Company has U.S. and foreign defined benefit and defined contribution pension plans. The most significant assumptions in determining the Company’s pension income or expense are the assumed pension liability discount rate and the expected return on plan assets. All unrecognized prior service costs, remaining transition obligations or assets and actuarial gains and losses have been recognized, net of tax effects, as a charge to accumulated other comprehensive income in stockholders’ equity and will be amortized as a component of net periodic pension cost. The Company uses a measurement date of December 31 (its fiscal year end) for its U.S. and foreign defined benefit plans. Earnings Per Share The calculation of basic earnings per share is based on the weighted average number of common shares considered outstanding during the periods. The calculation of diluted earnings per share reflects the effect of all potentially dilutive securities (principally outstanding stock options and restricted stock grants). The number of weighted average shares used in the calculation of basic earnings per share and diluted earnings per share was as follows for the years ended December 31: 2020 2019 2018 (In thousands) Weighted average shares: Basic shares 229,435 227,759 230,823 Equity-based compensation plans 1,715 1,636 1,889 Diluted shares 231,150 229,395 232,712

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The ASU replaces the incurred loss methodology with a methodology that reflects expected credit losses and requires consideration of a broad range of reasonable and supportable information to inform credit loss estimates. The Company adopted ASU 2016-13 on January 1, 2020, using the modified retrospective transition method. The adoption of ASU 2016-13 did not have a material impact on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures. Upon adoption, the Company recognized a decrease to net Accounts Receivable and a decrease to Retained Earnings of $0.4 million. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (“ASU 2018-13”), which changes the fair value measurement disclosure requirements of ASC Topic 820, Fair Value Measurement (“ASC 820”), by eliminating, modifying and adding to those requirements. ASU 2018-13 also modifies the disclosure objective paragraphs of ASC 820 to eliminate (1) “ at a minimum” from the phrase “an entity shall disclose at a minimum” and (2) other similar “open ended” disclosure requirements to promote the appropriate exercise of discretion by entities. The Company adopted ASU 2018-13 on January 1, 2020, and the adoption did not have a material impact on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (“ASU 2018-15”), that requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customer in a software licensing arrangement under the internal-use software guidance in ASC Topic 350, Intangibles – Goodwill and Other . ASU 2018-15 requires a customer to disclose the nature of its hosting arrangements that are service contracts and provide disclosures as if the deferred implementation costs were a separate, major depreciable asset class. The Company adopted ASU 2018-15 on January 1, 2020, and the adoption did not have a material impact on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures. In August 2018, the FASB issued ASU No. 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans – General (“ASU 2018-14”), which changes the disclosure requirements of ASC Topic 715, Compensation – Retirement Benefits , by eliminating, modifying and adding to those requirements. The Company adopted ASU 2018-14 on January 1, 2020, and the adoption did not have a material impact on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures. Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020. Early adoption is permitted and the amendments in this ASU should be applied on a retrospective basis to all periods presented. The Company has not determined the impact ASU 2019-12 may have on the Company’s consolidated results of operations, financial position, cash flows or financial statement disclosures.

Revenues

Revenues	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The majority of the Company’s revenues on product sales are recognized at a point in time when the customer obtains control of the product. The Company determined that revenues from certain of its customer contracts met the criteria of satisfying its performance obligations over time, primarily in the areas of the manufacture of custom-made equipment and for service repairs of customer-owned equipment. Recognizing revenue over time for custom-manufactured equipment is based on the Company’s judgment that, in certain contracts, the product does not have an alternative use and the Company has an enforceable right to payment for performance completed to date. The Company recognizes incremental cost of obtaining contracts as an expense when incurred if the amortization period of the contract cost assets that the Company would have otherwise recognized is one year or less. These costs are included in Selling, general and administrative expenses in the consolidated statement of income. The determination of the revenue to be recognized in each period for performance obligations satisfied over time is based on the input method. The Company recognizes revenue over time as it performs on these contracts because the transfer of control to the customer occurs over time. Revenue is recognized based on the extent of progress towards completion of the performance obligation. The Company generally uses the total cost-to-cost input method of progress because it best depicts the transfer of control to the customer that occurs as costs are incurred. Under the cost-to-cost method, the extent of progress towards completion is measured based on the proportion of costs incurred to date to the total estimated costs at completion of the performance obligation. On certain contracts, labor hours are used as the measure of progress when it is determined to be a better depiction of the transfer of control to the customer due to the timing and pattern of labor hours incurred. Performance obligations also include post-delivery service, installation and training. Post-delivery service revenues are recognized over the contract term. Installation and training revenues are recognized over the period the service is provided. Warranty terms in customer contracts can also be considered separate performance obligations if the warranty provides services beyond assurance that a product complies with agreed-upon specification or if a warranty can be purchased separately. The Company does not incur significant obligations for customer returns and refunds. The Company has certain contracts with variable consideration in the form of volume discounts, rebates and early payment options, which may affect the transaction price used as the basis for revenue recognition. In these contracts, the amount of the variable consideration is allocated among the various performance obligations in the customer contract based on the relative standalone selling price of each performance obligation to the total standalone value of all the performance obligations. Payment terms generally begin upon shipment of the product. The Company does have contracts with multiple billing terms that are all due within one year from when the product is delivered. No significant financing component exists. Payment terms are generally 30-60 days from the time of shipment or customer acceptance, but terms can be shorter or longer, not exceeding one year. For customer contracts that have revenue recognized over time, revenue is generally recognized prior to a payment being due from the customer. In such cases, the Company recognizes a contract asset at the time the revenue is recognized. When payment becomes due based on the contract terms, the Company reduces the contract asset and records a receivable. In contracts with billing milestones or in other instances with a long production cycle or concerns about credit, customer advance payments are received. The Company may receive a payment in excess of revenue recognized to that date. In these circumstances, a contract liability is recorded. Contract liabilities are derecognized when the performance obligations are satisfied, and revenue is recognized. The outstanding contract asset and liability accounts were as follows: 2020 2019 (In thousands) Contract assets – January 1 $ 73,039 $ 58,266 Contract assets – December 31 68,971 73,039 Change in contract assets – (decrease) increase (4,068) 14,773 Contract liabilities – January 1 167,306 146,162 Contract liabilities – December 31 215,093 167,306 Change in contract liabilities – increase (47,787) (21,144) Net change $ (51,855) $ (6,371) The net change in 2020 was primarily driven by the receipt of advance payments from customers significantly exceeding the recognition of revenue. The net change in 2019 was primarily driven by the receipt of advance payments from customers relating to the 2019 acquisitions exceeding the recognition of revenue as performance obligations were satisfied prior to billing. For the years ended December 31, 2020 and 2019, the Company recognized revenue of $133 million and $130 million, respectively, that was previously included in the beginning balance of contract liabilities. Contract assets are reported as a component of Other current assets in the consolidated balance sheet. At December 31, 2020 and 2019, $20.5 million and $10.6 million, respectively, of Customer advanced payments (contract liabilities) were recorded in Other long-term liabilities in the consolidated balance sheet. The remaining performance obligations exceeding one year as of December 31, 2020 and 2019 were $300.8 million and $233.3 million, respectively. Remaining performance obligations represent the transaction price of firm, non-cancelable orders, with expected delivery dates to customers greater than one year from the balance sheet date, for which the performance obligation is unsatisfied or partially unsatisfied. These performance obligations will be substantially satisfied within two Geographic Areas Net sales were attributed to geographic areas based on the location of the customer. Information about the Company’s operations in different geographic areas was as follows for the year ended December 31: 2020 EIG EMG Total (In thousands) United States $ 1,513,967 $ 816,159 $ 2,330,126 International (1) : United Kingdom 54,158 117,469 171,627 European Union countries 371,884 324,203 696,087 Asia 769,532 189,987 959,519 Other foreign countries 280,387 102,283 382,670 Total international 1,475,961 733,942 2,209,903 Consolidated net sales $ 2,989,928 $ 1,550,101 $ 4,540,029 _________________ (1) Includes U.S. export sales of $1,196.4 million. 2019 EIG EMG Total (In thousands) United States $ 1,685,369 $ 998,317 $ 2,683,686 International (1) : United Kingdom 64,423 132,485 196,908 European Union countries 434,072 392,283 826,355 Asia 773,034 186,535 959,569 Other foreign countries 365,983 126,056 492,039 Total international 1,637,512 837,359 2,474,871 Consolidated net sales $ 3,322,881 $ 1,835,676 $ 5,158,557 _________________ (1) Includes U.S. export sales of $1,306.2 million. 2018 EIG EMG Total (In thousands) United States $ 1,446,974 $ 950,358 $ 2,397,332 International (1) : United Kingdom 61,513 135,077 196,590 European Union countries 389,032 399,547 788,579 Asia 780,135 205,047 985,182 Other foreign countries 351,305 126,884 478,189 Total international 1,581,985 866,555 2,448,540 Consolidated net sales $ 3,028,959 $ 1,816,913 $ 4,845,872 _________________ (1) Includes U.S. export sales of $1,269.4 million Major Products and Services The Company’s major products and services in the reportable segments were as follows for the year ended December 31: 2020 EIG EMG Total (In thousands) Process and analytical instrumentation $ 2,199,167 $ — $ 2,199,167 Aerospace and power 790,761 466,343 1,257,104 Automation and engineered solutions — 1,083,758 1,083,758 Consolidated net sales $ 2,989,928 $ 1,550,101 $ 4,540,029 2019 EIG EMG Total (In thousands) Process and analytical instrumentation $ 2,393,587 $ — $ 2,393,587 Aerospace and power 929,294 491,171 1,420,465 Automation and engineered solutions — 1,344,505 1,344,505 Consolidated net sales $ 3,322,881 $ 1,835,676 $ 5,158,557 2018 EIG EMG Total (In thousands) Process and analytical instrumentation $ 2,120,448 $ — $ 2,120,448 Aerospace and power 908,511 456,517 1,365,028 Automation and engineered solutions — 1,360,396 1,360,396 Consolidated net sales $ 3,028,959 $ 1,816,913 $ 4,845,872 Timing of Revenue Recognition The Company’s timing of revenue recognition was as follows for the year ended December 31: 2020 EIG EMG Total (In thousands) Products transferred at a point in time $ 2,427,254 $ 1,390,574 $ 3,817,828 Products and services transferred over time 562,674 159,527 722,201 Consolidated net sales $ 2,989,928 $ 1,550,101 $ 4,540,029 2019 EIG EMG Total (In thousands) Products transferred at a point in time $ 2,680,296 $ 1,670,448 $ 4,350,744 Products and services transferred over time 642,585 165,228 807,813 Consolidated net sales $ 3,322,881 $ 1,835,676 $ 5,158,557 2018 EIG EMG Total (In thousands) Products transferred at a point in time $ 2,533,718 $ 1,690,124 $ 4,223,842 Products and services transferred over time 495,241 126,789 622,030 Consolidated net sales $ 3,028,959 $ 1,816,913 $ 4,845,872 Product Warranties The Company provides limited warranties in connection with the sale of its products. The warranty periods for products sold vary among the Company’s operations, but the majority do not exceed one year. The Company calculates its warranty expense provision based on its historical warranty experience and adjustments are made periodically to reflect actual warranty expenses. Product warranty obligations are reported as a component of Accrued liabilities and other in the consolidated balance sheet. Changes in the accrued product warranty obligation were as follows: 2020 2019 2018 (In thousands) Balance at the beginning of the year $ 27,611 $ 23,482 $ 22,872 Accruals for warranties issued during the year 12,000 21,145 13,897 Settlements made during the year (14,602) (19,637) (14,509) Warranty accruals related to acquired businesses and other during the year 2,830 2,621 1,222 Balance at the end of the year $ 27,839 $ 27,611 $ 23,482

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes a valuation hierarchy for disclosure of the inputs to the valuations used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following table provides the Company’s assets that are measured at fair value on a recurring basis, consistent with the fair value hierarchy, at December 31: 2020 2019 Fair Value Fair Value (In thousands) Mutual fund investments $ 8,969 $ 8,390 The fair value of mutual fund investments, which are valued as level 1 investments, was based on quoted market prices. The mutual fund investments are shown as a component of long-term assets in the consolidated balance sheet. For the years ended December 31, 2020 and 2019, gains and losses on the investments detailed above were not significant. Financial Instruments Cash, cash equivalents and mutual fund investments are recorded at fair value at December 31, 2020 and 2019 in the accompanying consolidated balance sheet. The following table provides the estimated fair values of the Company’s financial instrument liabilities, for which fair value is measured for disclosure purposes only, compared to the recorded amounts at December 31: 2020 2019 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt, net (including current portion) $ (2,347,587) $ (2,550,956) $ (2,382,041) $ (2,531,549) The fair value of short-term borrowings, net approximates the carrying value. Short-term borrowings, net are valued as level 2 liabilities as they are corroborated by observable market data. The Company’s long-term debt, net is all privately held with no public market for this debt, therefore, the fair value of long-term debt, net was computed based on comparable current market data for similar debt instruments and is considered to be a level 3 liability. See Note 10 for long-term debt principal amounts, interest rates and maturities. Foreign Currency At December 31, 2020, the Company had no foreign currency forward contracts outstanding. At December 31, 2019, the Company had a Canadian dollar forward contract for a total notional value of 14.0 million Canadian dollars ($0.1 million fair value unrealized loss at December 31, 2019) outstanding. At December 31, 2018, the Company had a Canadian dollar forward contract for a total notional value of 30.0 million Canadian dollars ($1.0 million fair value unrealized gain at December 31, 2018). For the year ended December 31, 2020 and 2019, realized gains and losses on foreign currency forward contracts were not significant. The Company does not typically designate its foreign currency forward contracts as accounting hedges.

Hedging Activities

Hedging Activities	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activities	Hedging Activities The Company has designated certain foreign-currency-denominated long-term borrowings as hedges of the net investment in certain foreign operations. As of December 31, 2020, and 2019, these net investment hedges included British-pound and Euro-denominated long-term debt. These borrowings were designed to create net investment hedges in each of the designated foreign subsidiaries. The Company designated the British-pound- and Euro-denominated loans referred to above as hedging instruments to offset translation gains or losses on the net investment due to changes in the British pound and Euro exchange rates. These net investment hedges are evidenced by management’s contemporaneous documentation supporting the hedge designation. Any gain or loss on the hedging instruments (the debt) following hedge designation is reported in accumulated other comprehensive income in the same manner as the translation adjustment on the hedged investment based on changes in the spot rate, which is used to measure hedge effectiveness. At December 31, 2020 and 2019, the Company had $307.3 million and $404.7 million, respectively, of British-pound denominated loans, which were designated as a hedge against the net investment in British pound functional currency foreign subsidiaries. At December 31, 2020 and 2019, the Company had $699.7 million and $645.6 million, respectively, in Euro-denominated loans, which were designated as a hedge against the net investment in Euro functional currency foreign subsidiaries. As a result of the British-pound and Euro-denominated loans being designated and 100% effective as net investment hedges, $60.5 million of pre-tax currency remeasurement losses and $2.4 million of pre-tax currency remeasurement losses have been included in the foreign currency translation component of other comprehensive income for the years ended December 31, 2020 and 2019, respectively.

Acquisitions and Divestiture

Acquisitions and Divestiture	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions and Divestiture	Acquisitions and Divestiture The Company spent $116.5 million in cash, net of cash acquired, to acquire IntelliPower in January 2020. IntelliPower designs and manufactures a broad portfolio of ruggedized solutions including uninterruptible power systems, external battery packs, power distribution units and power conditioners. IntelliPower was privately held and is headquartered in Orange, California. IntelliPower is part of EIG. The following table represents the allocation of the aggregate purchase price for the net assets of the IntelliPower acquisition based on the estimated fair values at acquisition (in millions): Property, plant and equipment $ 1.8 Goodwill 57.3 Other intangible assets 59.5 Deferred income taxes (12.4) Net working capital and other (1) 10.3 Total cash paid $ 116.5 ______________________ (1) Includes $6.4 million in accounts receivable, whose fair value, contractual cash flows and expected cash flows are approximately equal. The amount allocated to goodwill is reflective of the benefits the Company expects to realize as IntelliPower's products and solutions broaden the Company's differentiated product offerings in the power systems and instruments sectors. At December 31, 2020, the purchase price allocated to other intangible assets of $59.5 million consists of $9.0 million of indefinite-lived intangible trade names, which are not subject to amortization. The remaining $50.5 million of other intangible assets consists of $38.0 million of customer relationships, which are being amortized over a period of 20 years and $12.5 million of purchased technology, which is being amortized over a period of 15 years. Amortization expense for each of the next five years for the IntelliPower acquisition is expected to be $2.7 million per year. The IntelliPower acquisition had an immaterial impact on reported net sales, net income and diluted earnings per share for the year ended December 31, 2020. Unaudited pro forma net sales, net income and diluted earnings per share for the years ended December 31, 2020 and 2019, respectively, would not have been materially different than the amounts reported. In 2019, the Company spent $1,061.9 million in cash, net of cash acquired, to acquire Pacific Design Technologies, Inc. (“PDT”) in September 2019 and Gatan in October 2019. PDT designs and manufactures a complete range of custom-engineered, liquid cooling systems and components used in a broad set of current and next-generation commercial aerospace, defense and space platforms. Gatan is a leading manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes. PDT is part of EMG and Gatan is part of EIG. In 2020, the Company finalized the measurements of certain tangible and intangible assets and liabilities for its 2019 acquisitions, which had no material impact to the consolidated statement of income. Total consideration paid for Gatan was $938.5 million and resulted in a purchase price allocation of $472.5 million of goodwill and other intangible assets of $418.0 million. The purchase price allocated to other intangible assets consists of indefinite-lived trade names of $57.7 million, $308.8 million of customer relationships, and $51.5 million of purchased technology. The Company expects $463 million of the goodwill recorded to be tax deductible in future years. In 2018, the Company spent $1,129.3 million in cash, net of cash acquired, to acquire FMH Aerospace (“FMH”) in January 2018, SoundCom Systems (“SoundCom”) in April 2018, Motec GmbH in June 2018, Forza Silicon Corporation (“Forza”), Telular Corporation in October 2018 and Spectro Scientific Corporation in November 2018. FMH is a provider of complex, highly-engineered solutions for the aerospace, defense and space industries. SoundCom provides design, integration, installation and support of clinical workflow and communication systems for healthcare facilities, educational institutions and corporations. SoundCom also serves as a value-added reseller for Rauland-Borg Corporation in the Midwest portion of the United States. Motec is a provider of integrated vision systems serving the high growth mobile machine vision market. Motec’s ruggedized vision products and integrated software solutions provide customers with improved operational efficiency and enhanced safety across a variety of critical mobile machine applications in transportation, agriculture, logistics and construction. Forza is a leader in the design and production of high-performance imaging sensors used in medical, defense and industrial applications. Telular is a provider of communication solutions for logistics management, tank monitoring and security applications. Spectro Scientific is a provider of machine condition monitoring solutions for critical assets in high-value industrial applications. FMH is part of EMG. SoundCom, Motec, Forza, Telular and Spectro Scientific are part of EIG. Divestiture The Company completed its sale of Reading Alloys to Kymera International in March 2020 for net cash proceeds of $245.3 million. The transaction resulted in a pre-tax gain of $141.0 million, recorded in Other Income (expense) in the Consolidated Statement of Income, and income tax expense of $31.4 million in connection with the sale. Reading Alloys revenue and costs were reported within the EMG segment through the date of sale.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The changes in the carrying amounts of goodwill by segment were as follows: EIG EMG Total (In millions) Balance at December 31, 2018 $ 2,452.0 $ 1,160.0 $ 3,612.0 Goodwill acquired 398.9 42.3 441.2 Purchase price allocation adjustments and other 35.5 (50.0) (14.5) Foreign currency translation adjustments 5.8 3.0 8.8 Balance at December 31, 2019 2,892.2 1,155.3 4,047.5 Goodwill acquired 57.3 — 57.3 Purchase price allocation adjustments and other 74.6 — 74.6 Foreign currency translation adjustments 26.2 19.3 45.5 Balance at December 31, 2020 $ 3,050.3 $ 1,174.6 $ 4,224.9 Other intangible assets were as follows at December 31: 2020 2019 (In thousands) Definite-lived intangible assets (subject to amortization): Patents $ 49,396 $ 47,872 Purchased technology 487,517 517,464 Customer lists 2,326,934 2,282,184 2,863,847 2,847,520 Accumulated amortization: Patents (37,858) (36,697) Purchased technology (209,308) (164,231) Customer lists (745,945) (625,591) (993,111) (826,519) Net intangible assets subject to amortization 1,870,736 2,021,001 Indefinite-lived intangible assets (not subject to amortization): Trademarks and trade names 752,983 741,871 $ 2,623,719 $ 2,762,872 Amortization expense was $154.0 million, $132.6 million and $114.1 for the years ended December 31, 2020, 2019 and 2018, respectively. Amortization expense for each of the next five years is expected to approximate $154 million per year, not considering the impact of potential future acquisitions.

Other Consolidated Balance Shee

Other Consolidated Balance Sheet Information	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Consolidated Balance Sheet Information	Other Consolidated Balance Sheet Information December 31, 2020 2019 (In thousands) INVENTORIES, NET Finished goods and parts $ 81,619 $ 99,773 Work in process 102,945 118,240 Raw materials and purchased parts 374,607 406,554 $ 559,171 $ 624,567 PROPERTY, PLANT AND EQUIPMENT, NET Land $ 33,382 $ 33,516 Buildings 302,158 295,891 Machinery and equipment 1,119,419 1,074,643 1,454,959 1,404,050 Less: Accumulated depreciation (928,429) (855,142) $ 526,530 $ 548,908 December 31, 2020 2019 (In thousands) ACCRUED LIABILITIES AND OTHER Employee compensation and benefits $ 124,347 $ 137,951 Product warranty obligation 27,839 27,611 Realignment 32,904 23,825 Short term lease liability 44,948 43,025 Liabilities held for sale — 23,405 Other 119,694 108,263 $ 349,732 $ 364,080

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income before income taxes and the details of the provision for income taxes were as follows for the years ended December 31: 2020 2019 2018 (In thousands) Income before income taxes: Domestic $ 810,844 $ 766,436 $ 555,077 Foreign 271,465 303,312 432,668 Total $ 1,082,309 $ 1,069,748 $ 987,745 Provision for income taxes: Current: Federal $ 126,427 $ 88,526 $ 204,712 Foreign 61,672 81,452 51,686 State 19,932 19,093 27,096 Total current 208,031 189,071 283,494 Deferred: Federal (1,254) 18,005 (62,095) Foreign (4,072) (29) (3,872) State 7,165 1,404 (7,715) Total deferred 1,839 19,380 (73,682) Total provision $ 209,870 $ 208,451 $ 209,812 Significant components of the deferred tax (asset) liability were as follows at December 31: 2020 2019 (In thousands) Non-current deferred tax (asset) liability: Differences in basis of property and accelerated depreciation (1) $ 46,023 $ 45,747 Reserves not currently deductible (61,872) (44,239) Pensions 39,256 39,820 Differences in basis of intangible assets and accelerated amortization 565,661 537,534 Net operating loss carryforwards (26,767) (41,782) Share-based compensation (13,780) (12,060) Foreign Tax Credit Carryforwards (261) (333) Unremitted earnings 10,657 12,977 Other (43,507) (20,889) 515,410 516,775 Less: Valuation allowance 5,965 7,146 521,375 523,921 Portion included in non-current assets 12,103 12,219 Gross non-current deferred tax liability $ 533,478 $ 536,140 ______________________ (1) Presented net of deferred tax asset of approximately $32.4 million and $35.1 million at December 31, 2020 and 2019, respectively, associated with ASC 842. The Company’s effective tax rate reconciles to the U.S. Federal statutory rate as follows for the years ended December 31: 2020 2019 2018 U.S. Federal statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax benefit 2.3 1.8 1.2 Foreign operations, net (1.4) (0.9) (0.1) U.S. Benefits for Manufacturing, Export and credits (1.9) (2.0) (1.8) Uncertain Tax Items (1.3) (1.0) 1.7 Stock compensation (1.0) (1.5) (0.5) Net deferred tax revaluation — — (0.1) US Tax on Foreign Earnings 2.1 2.3 (0.1) Other (0.4) (0.2) (0.1) Consolidated effective tax rate 19.4 % 19.5 % 21.2 % On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Tax Act”). During 2018 the Company finalized the calculations of the Tax Act transitional tax items and reported a favorable $11.8 million tax benefit of which $10.4 million relates to the one-time mandatory deemed repatriation tax and $1.4 million relates to the remeasurement of the net deferred tax liabilities in the U.S. for the impact of the lower tax rates. The Company elected to pay the cash tax cost of the one-time mandatory tax on previously deferred earnings of non-U.S. subsidiaries over an eight-year period. As of December 31, 2020, the Company has a remaining cash tax obligation of $35.9 million, of which none is payable within the next twelve months. The Company has evaluated the impact of the global intangible low-taxed income (“GILTI”) section of the Tax Act and has made a tax accounting policy election to record the annual tax cost of GILTI as a current period expense when incurred and, as such, will not be measuring an impact of GILTI in its determination of deferred taxes. As a result of the one-time mandatory deemed repatriation and the taxable inclusions under the GILTI provisions of the Tax Act, the Company has approximately $482.0 million in previously taxed income (“PTI”) as of December 31, 2020 which can be repatriated without incremental U.S. Federal tax. The Company intends to reinvest its earnings indefinitely in operations outside the United States except to the extent of the PTI. There has been no provision for U.S. deferred income taxes for the undistributed earnings over PTI of approximately $411.0 million and $714.0 million at December 31, 2020 and 2019 respectively because determination of the amount of the unrecognized deferred income tax liability on these undistributed earnings is not practicable. As of December 31, 2020, and 2019, the Company recorded deferred income taxes totaling $10.7 million and $13.0 million respectively in state income and foreign withholding taxes expected to be incurred when the cash amounts related to the mandatory tax are ultimately repatriated to the U.S. The Company is acquisitive and at times acquires entities with tax attributes (net operating losses or tax credits) that carry over to post-acquisition tax periods of the Company. At December 31, 2020, the Company had tax effected benefits of $26.8 million related to net operating loss carryforwards, which will be available to offset future income taxes payable, subject to certain annual or other limitations based on foreign and U.S. tax laws. This amount includes net operating loss carryforwards of $14.5 million for federal income tax purposes with no valuation allowance, $10.7 million for state income tax purposes with no valuation allowance and $1.6 million for foreign income tax purposes with a valuation allowance of $1.6 million. These net operating loss carryforwards, if not used, will expire between 2021 and 2040. At December 31, 2020, the Company had tax effected benefits of $10.9 million related to tax credit carryforwards, which will be available to offset future income taxes payable, subject to certain annual or other limitations based on foreign and U.S. tax laws. This amount includes tax credit carryforwards of $3.4 million for federal income tax purposes with a valuation allowance of $1.2 million, $7.5 million for state income tax purposes with a valuation allowance of $2.0 million, and no remaining credit carryforwards for foreign income tax purposes. These tax credit carryforwards, if not used, will expire between 2021 and 2040. The Company maintains a valuation allowance to reduce certain deferred tax assets to amounts that are more likely than not to be realized. This allowance primarily relates to the deferred tax assets established for state non-deductible interest expense and federal and state credit carryforwards. In 2020, the Company recorded a decrease of $1.2 million in the valuation allowance of which $1.2 million relates to foreign losses that were utilized. There are no material uncertainties related to the realization of any deferred tax assets and their realization does not materially depend on specific tax planning strategies being implemented or changes in future levels of expected profits. At December 31, 2020, the Company had gross unrecognized tax benefits of $100.7 million, of which $60.6 million, if recognized, would impact the effective tax rate. At December 31, 2019, the Company had gross unrecognized tax benefits of $109.1 million, of which $65.9 million, if recognized, would impact the effective tax rate. At December 31, 2020 and 2019, the Company reported $11.6 million and $14.2 million, respectively, related to interest and penalty exposure as accrued income tax expense in the consolidated balance sheet. During 2020, the Company recognized a net benefit of $2.6 million, and net expense of $0.2 million and $8.9 million in 2019 and 2018, respectively, for interest and penalties related to uncertain tax positions in the consolidated statement of income as a component of income tax expense. Approximately 73% of the Company’s overall tax liability is incurred in the United States. The Company files income tax returns in various other state and foreign tax jurisdictions, in some cases for multiple legal entities per jurisdiction. Generally, the Company has open tax years subject to tax audit on average of between three and six years in these jurisdictions. At December 31, 2020, there were no tax years currently under examination by the Internal Revenue Service (“IRS”) related to the U.S. consolidated tax group, although a separate examination of a pre-acquisition net operating loss is ongoing related to a recently acquired company for which no material liability is expected. The Company has two separate ongoing examinations in Germany for tax years 2015-2017 for which no material liability is expected. The Company has not materially extended any other statutes of limitation for any significant location and has reviewed and accrued for, where necessary, tax liabilities for open periods including state and foreign jurisdictions that remain subject to examination. There have been no penalties asserted or imposed by the IRS related to substantial understatement of income, gross valuation misstatement or failure to disclose a listed or reportable transaction. During 2020, the Company added $24.3 million of tax, interest and penalties related to identified uncertain tax positions and reversed $35.3 million of tax and interest related to statute expirations and settlement of prior uncertain positions. During 2019, the Company added $25.4 million of tax, interest and penalties related to identified uncertain tax positions and reversed $35.4 million of tax and interest related to statute expirations and settlement of prior uncertain positions. The following is a reconciliation of the liability for uncertain tax positions at December 31: 2020 2019 2018 (In millions) Balance at the beginning of the year $ 109.1 $ 119.3 $ 60.3 Additions for tax positions related to the current year 15.6 17.5 21.8 Additions for tax positions of prior years 6.2 2.8 53.5 Reductions for tax positions of prior years (0.3) (1.3) (3.9) Reductions related to settlements with taxing authorities (0.5) (0.9) — Reductions due to statute expirations (29.4) (28.3) (12.4) Balance at the end of the year $ 100.7 $ 109.1 $ 119.3 The additions above primarily reflect the increase in tax liabilities for uncertain tax positions related to certain higher transfer pricing risks for hard to value intangible assets. The reductions above primarily relate to statute expirations. At December 31, 2020, tax, interest and penalties of $110.7 million were classified as a non-current liability. The net change in uncertain tax positions for the year ended December 31, 2020 resulted in a decrease to income tax expense of $4.8 million, which reflects the decrease of $8.4 million in gross uncertain tax positions less offsetting benefits reported as decreases to deferred tax liabilities or increases in long-term taxes receivable.

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt Long-term debt, net consisted of the following at December 31: 2020 2019 (In thousands) U.S. dollar 3.73% senior notes due September 2024 $ 300,000 $ 300,000 U.S. dollar 3.91% senior notes due June 2025 50,000 50,000 U.S. dollar 3.96% senior notes due August 2025 100,000 100,000 U.S. dollar 4.18% senior notes due December 2025 275,000 275,000 U.S. dollar 3.83% senior notes due September 2026 100,000 100,000 U.S. dollar 4.32% senior notes due December 2027 250,000 250,000 U.S. dollar 4.37% senior notes due December 2028 50,000 50,000 U.S. dollar 3.98% senior notes due September 2029 100,000 100,000 U.S. dollar 4.45% senior notes due August 2035 50,000 50,000 British pound 4.68% senior note due September 2020 — 106,140 British pound 2.59% senior note due November 2028 204,880 199,011 British pound 2.70% senior note due November 2031 102,433 99,508 Euro 1.34% senior notes due October 2026 366,806 336,797 Euro 1.71% senior notes due December 2027 91,706 84,202 Euro 1.53% senior notes due October 2028 244,572 224,553 Swiss franc 2.44% senior note due December 2021 62,190 56,830 Revolving credit facility borrowings 72,145 384,816 Other, principally foreign — 9,234 Less: Debt issuance costs (6,007) (7,350) Total debt, net 2,413,725 2,768,741 Less: Current portion, net (132,284) (497,449) Total long-term debt, net $ 2,281,441 $ 2,271,292 Maturities of long-term debt borrowings outstanding at December 31, 2020 were as follows: none in 2022; none in 2023; $300.0 million in 2024; $425.0 million in 2025; $466.8 million in 2026; and $1,089.6 million in 2027 and thereafter. In the third quarter of 2020, the Company paid in full, at maturity, an 80 million British pound ($106.4 million) in aggregate principal amount of 4.68% senior note. In the fourth quarter of 2019, the Company paid in full, at maturity, $100 million in aggregate principal amount of 6.30% private placement senior notes. In December 2018, the Company completed a private placement agreement to sell $575 million and 75 million Euros in senior notes to a group of institutional investors (the “2018 Private Placement”) utilizing two funding dates. The first funding occurred in December 2018 for $475 million and 75 million Euros ($85.1 million). The second funding was in January 2019 for $100 million. The 2018 Private Placement senior notes carry a weighted average interest rate of 3.93% and are subject to certain customary covenants, including financial covenants that, among other things, require the Company to maintain certain debt-to-EBITDA (earnings before interest, income taxes, depreciation and amortization) and interest coverage ratios. The proceeds from the 2018 Private Placement were used to pay down domestic borrowings under the Company’s revolving credit facility. In December 2007, the Company issued $100 million in aggregate principal amount of 6.30% private placement senior notes due December 2019 (paid in full, at maturity, as previously noted). In September 2014, the Company issued $300 million in aggregate principal amount of 3.73% senior notes due September 2024, $100 million in aggregate principal amount of 3.83% senior notes due September 2026 and $100 million in aggregate principal amount of 3.98% senior notes due September 2029. In June 2015, the Company issued $50 million in aggregate principal amount of 3.91% senior notes due June 2025. In August 2015, the Company issued $100 million in aggregate principal amount of 3.96% senior notes due August 2025 and $50 million in aggregate principal amount of 4.45% senior notes due August 2035. In September 2010, the Company issued an 80 million British pound 4.68% senior note due September 2020 (paid in full, at maturity, as previously noted). In December 2011, the Company issued a 55 million Swiss franc ($62.2 million at December 31, 2020) 2.44% senior note due December 2021. In October 2016, the Company issued 300 million Euros ($366.8 million at December 31, 2020) in aggregate principal amount of 1.34% senior notes due October 2026 and 200 million Euros ($244.6 million at December 31, 2020) in aggregate principal amount of 1.53% senior notes due October 2028. In November 2016, the Company issued 150 million British pounds ($204.9 million at December 31, 2020) in aggregate principal amount of 2.59% senior notes due November 2028 and 75 million British pounds ($102.4 million at December 31, 2020) in aggregate principal amount of 2.70% senior notes due November 2031. In October 2018, the Company along with certain of its foreign subsidiaries amended and restated its credit agreement dated as of September 22, 2011, as amended and restated as of March 10, 2016 (the “Credit Agreement”). The Credit Agreement amends and restates the Company’s existing $850 million revolving credit facility, which was due to expire in March 2021. The Credit Agreement consists of a five years revolving credit facility in an aggregate principal amount of $1.5 billion with a final maturity date in October 2023. The revolving credit facility total borrowing capacity excludes an accordion feature that permits the Company to request up to an additional $500 million in revolving credit commitments at any time during the life of the Credit Agreement under certain conditions. The revolving credit facility provides the Company with additional financial flexibility to support its growth plans, including its acquisition strategy. At December 31, 2020, the Company had available borrowing capacity of $1,897.7 million under its revolving credit facility, including the $500 million accordion feature. Interest rates on outstanding borrowings under the revolving credit facility are at the applicable benchmark rate plus a negotiated spread or at the U.S. prime rate. At December 31, 2020 and 2019 the Company had $72.1 million and $384.8 million of borrowings outstanding under the revolving credit facility, respectively. The weighted average interest rate on the revolving credit facility for the years ended December 31, 2020 and 2019 was 1.84% and 1.13%, respectively. The Company had outstanding letters of credit primarily under the revolving credit facility totaling $30.2 million and $34.9 million at December 31, 2020 and 2019, respectively. The private placements, the senior notes and the revolving credit facility are subject to certain customary covenants, including financial covenants that, among other things, require the Company to maintain certain debt-to-EBITDA and interest coverage ratios. The Company was in compliance with all provisions of the debt arrangements at December 31, 2020. Foreign subsidiaries of the Company had available credit facilities with local foreign lenders of $53.0 million and $52.2 million at December 31, 2020 and 2019, respectively. At December 31, 2020, foreign subsidiaries had no debt borrowings outstanding. At December 31, 2019, foreign subsidiaries had debt borrowings outstanding totaling $9.2 million, which was reported in short-term borrowings. The weighted average interest rate on total debt borrowings outstanding at December 31, 2020 and 2019 was 3.0% and 3.5%, respectively.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Under the terms of the Company’s stockholder-approved share-based plans, performance restricted stock units (“PRSUs”), incentive and non-qualified stock options and restricted stock have been, and may be, issued to the Company’s officers, management-level employees and members of its Board of Directors. Stock options granted prior to 2018 generally vest at a rate of one-fourth on each of the first four anniversaries of the grant date and have a maximum contractual term of seven years. Beginning in 2018, stock options granted generally vest at a rate of one-third on each of the first three anniversaries of the grant date and have a maximum contractual term of ten years. Restricted stock granted to employees prior to 2018 generally vests four years after the grant date (cliff vesting) and is subject to accelerated vesting due to certain events, including doubling of the grant price of the Company’s common stock as of the close of business during any five consecutive trading days. Beginning in 2018, restricted stock granted to employees generally vests one-third on each of the first three anniversaries of the grant date. Restricted stock granted to non-employee directors generally vests two years after the grant date (cliff vesting) and is subject to accelerated vesting due to certain events, including doubling of the grant price of the Company’s common stock as of the close of business during any five consecutive trading days. Share Based Compensation Expense The Company measures and records compensation expense related to all stock awards by recognizing the grant date fair value of the awards over their requisite service periods in the financial statements. For grants under any of the Company’s plans that are subject to graded vesting based on a service condition, the Company recognizes expense on a straight-line basis over the requisite service period for the entire award. Total share-based compensation expense was as follows for the years ended December 31: 2020 2019 2018 (In thousands) Stock option expense $ 13,695 $ 12,810 $ 11,390 Restricted stock expense 17,997 16,169 14,400 PRSU expense 9,873 11,415 1,525 Total pre-tax expense $ 41,565 $ 40,394 $ 27,315 Pre-tax share-based compensation expense is included in the consolidated statement of income in either Cost of sales or Selling, general and administrative expenses, depending on where the recipient’s cash compensation is reported. Stock Options The fair value of each stock option grant is estimated on the date of grant using a Black-Scholes-Merton option pricing model. The following weighted average assumptions were used in the Black-Scholes-Merton model to estimate the fair values of stock options granted during the years indicated: 2020 2019 2018 Expected volatility 22.2 % 19.1 % 17.3 % Expected term (years) 5.0 5.0 5.0 Risk-free interest rate 0.52 % 2.25 % 2.81 % Expected dividend yield 1.14 % 0.66 % 0.76 % Black-Scholes-Merton fair value per stock option granted $ 11.01 $ 16.85 $ 14.12 Expected volatility is based on the historical volatility of the Company’s stock over the stock options’ expected term. The Company used historical exercise data to estimate the stock options’ expected term, which represents the period of time that the stock options granted are expected to be outstanding. Management anticipates that the future stock option holding periods will be similar to the historical stock option holding periods. The risk-free interest rate for periods within the expected term of the stock option is based on the U.S. Treasury yield curve at the time of grant. The expected dividend yield is calculated by dividing the Company’s annual dividend, based on the most recent quarterly dividend rate, by the Company’s closing common stock price on the grant date. Compensation expense recognized for all share-based awards is net of estimated forfeitures. The Company’s estimated forfeiture rates are based on its historical experience. The following is a summary of the Company’s stock option activity and related information for the year ended December 31, 2020: Shares Weighted Weighted Aggregate (In thousands) (Years) (In millions) Outstanding at the beginning of the year 4,303 $ 62.50 Granted 963 63.37 Exercised (1,191) 53.46 Forfeited (121) 71.64 Expired (4) 56.75 Outstanding at the end of the year 3,950 $ 65.16 6.0 $ 220.3 Exercisable at the end of the year 2,044 $ 60.80 4.1 $ 123.0 The aggregate intrinsic value of stock options exercised during 2020, 2019 and 2018 was $63.7 million, $88.2 million and $23.9 million, respectively. The total fair value of stock options vested during 2020, 2019 and 2018 was $12.9 million, $11.8 million and $10.1 million, respectively. The following is a summary of the Company’s non-vested stock option activity and related information for the year ended December 31, 2020: Shares Weighted (In thousands) Non-vested stock options outstanding at the beginning of the year 2,066 $ 14.17 Granted 963 11.01 Vested (1,002) 12.90 Forfeited (121) 12.45 Non-vested stock options outstanding at the end of the year 1,906 $ 13.34 As of December 31, 2020, there was approximately $14 million of expected future pre-tax compensation expense related to the 1.9 million non-vested stock options outstanding, which is expected to be recognized over a weighted average period of less than two years. Restricted Stock The fair value of restricted shares under the Company’s restricted stock arrangement is determined by the product of the number of shares granted and the Company’s closing common stock price on the grant date. Upon the grant of restricted stock, the fair value of the restricted shares (unearned compensation) at the grant date is charged as a reduction of capital in excess of par value in the Company’s consolidated balance sheet and is amortized to expense on a straight-line basis over the vesting period, which is the same as the calculated derived service period as determined on the grant date. The following is a summary of the Company’s non-vested restricted stock activity and related information for the year ended December 31, 2020: Shares Weighted (In thousands) Non-vested restricted stock outstanding at the beginning of the year 561 $ 72.46 Granted 381 80.27 Vested (201) 71.37 Forfeited (40) 75.12 Non-vested restricted stock outstanding at the end of the year 701 $ 76.86 The total fair value of restricted stock vested during 2020, 2019 and 2018 was $14.4 million, $25.2 million and $11.6 million, respectively. The weighted average fair value of restricted stock granted per share during 2020 and 2019 was $80.27 and $85.81, respectively. As of December 31, 2020, there was approximately $33 million of expected future pre-tax compensation expense related to the 0.7 million non-vested restricted shares outstanding, which is expected to be recognized over a weighted average period of less than two years. Performance Restricted Stock Units The PRSUs vest over a period up to three years from the grant date based on continuous service, with the number of shares earned (0% to 200% of the target award) depending upon the extent to which the Company achieves certain financial and market performance targets measured over the period from January 1 of the year of grant through December 31 of the third year. Half of the PRSUs are valued in a manner similar to restricted stock as the financial targets are based on the Company’s operating results. The grant date fair value of these PRSUs are recognized as compensation expense over the vesting period based on the number of awards expected to vest at each reporting date. The other half of the PRSUs were valued using a Monte Carlo model as the performance target is related to the Company’s total shareholder return compared to a group of peer companies, which represents a market condition. The Company recognizes the grant date fair value of these awards as compensation expense ratably over the vesting period. The following is a summary of the Company’s non-vested performance restricted stock activity and related information for the year ended December 31, 2020: Shares Weighted (In thousands) Non-vested performance restricted stock outstanding at the beginning of the year 148 $ 80.57 Granted 119 63.37 Vested — — Forfeited (3) 73.35 Non-vested performance restricted stock outstanding at the end of the year 264 $ 72.90 As of December 31, 2020, there was approximately $4 million of expected future pre-tax compensation expense related to the 0.3 million non-vested performance restricted shares outstanding, which is expected to be recognized over a weighted average period of less than one year. The Company issues previously unissued shares when stock options are exercised, and shares are issued from treasury stock upon the award of restricted stock.

Retirement Plans and Other Post

Retirement Plans and Other Postretirement Benefits	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Retirement Plans and Other Postretirement Benefits	Retirement Plans and Other Postretirement Benefits Retirement and Pension Plans The Company sponsors several retirement and pension plans covering eligible salaried and hourly employees. The plans generally provide benefits based on participants’ years of service and/or compensation. The following is a brief description of the Company’s retirement and pension plans. The Company maintains contributory and non-contributory defined benefit pension plans. Benefits for eligible salaried and hourly employees under all defined benefit plans are funded through trusts established in conjunction with the plans. The Company’s funding policy with respect to its defined benefit plans is to contribute amounts that provide for benefits based on actuarial calculations and the applicable requirements of U.S. federal and local foreign laws. The Company estimates that it will make both required and discretionary cash contributions of approximately $6 million to $10 million to its worldwide defined benefit pension plans in 2021. The Company uses a measurement date of December 31 (its fiscal year end) for its U.S. and foreign defined benefit pension plans. The Company sponsors a 401(k) retirement and savings plan for eligible U.S. employees. Participants in the retirement and savings plan may contribute a specified portion of their compensation on a pre-tax basis, which varies by location. The Company matches employee contributions ranging from 20% to 100%, up to a maximum percentage ranging from 1% to 8% of eligible compensation or up to a maximum of $1,200 per participant in some locations. The Company’s retirement and savings plan has a defined contribution retirement feature principally to cover U.S. salaried employees joining the Company after December 31, 1996. Under the retirement feature, the Company makes contributions for eligible employees based on a pre-established percentage of the covered employee’s salary subject to pre-established vesting. Employees of certain of the Company’s foreign operations participate in various local defined contribution plans. The Company has non-qualified unfunded retirement plans for certain Directors and retired employees. It also provides supplemental retirement benefits, through contractual arrangements and/or a Supplemental Executive Retirement Plan (“SERP”) covering certain current and former executives of the Company. These supplemental benefits are designed to compensate the executive for retirement benefits that would have been provided under the Company’s primary retirement plan, except for statutory limitations on compensation that must be taken into account under those plans. The projected benefit obligations of the SERP and the contracts will primarily be funded by a grant of shares of the Company’s common stock upon retirement or termination of the executive. The Company is providing for these obligations by charges to earnings over the applicable periods. The following tables set forth the changes in net projected benefit obligation and the fair value of plan assets for the funded and unfunded defined benefit plans for the years ended December 31: U.S. Defined Benefit Pension Plans: 2020 2019 (In thousands) Change in projected benefit obligation: Net projected benefit obligation at the beginning of the year $ 510,514 $ 471,506 Service cost 3,015 3,248 Interest cost 17,235 20,287 Actuarial losses (gains) 32,963 46,269 Gross benefits paid (31,370) (30,796) Net projected benefit obligation at the end of the year $ 532,357 $ 510,514 Change in plan assets: Fair value of plan assets at the beginning of the year $ 621,632 $ 552,187 Actual return on plan assets 71,281 99,573 Employer contributions 755 668 Gross benefits paid (31,370) (30,796) Fair value of plan assets at the end of the year $ 662,298 $ 621,632 Foreign Defined Benefit Pension Plans: 2020 2019 (In thousands) Change in projected benefit obligation: Net projected benefit obligation at the beginning of the year $ 311,783 $ 268,763 Service cost 4,246 3,307 Interest cost 5,376 6,692 Foreign currency translation adjustments 13,955 9,042 Employee contributions 92 110 Actuarial losses (gains) 27,055 35,021 Expenses paid from assets (838) (747) Gross benefits paid (10,615) (8,421) Settlements — (1,984) Plan amendments 530 — Net projected benefit obligation at the end of the year $ 351,584 $ 311,783 Change in plan assets: Fair value of plan assets at the beginning of the year $ 224,347 $ 196,801 Actual return on plan assets 20,966 25,391 Employer contributions 8,772 4,941 Employee contributions 92 110 Foreign currency translation adjustments 8,011 8,256 Expenses paid from assets (838) (747) Settlements — (1,984) Gross benefits paid (10,615) (8,421) Fair value of plan assets at the end of the year $ 250,735 $ 224,347 The projected benefit obligation assumptions impacting net actuarial losses (gains) consist of changes in discount and mortality rates, as well as changes in plan experience. A significant component of the decrease in actuarial losses in 2020 for both the U.S. and Foreign Defined Benefit Plans was the change in discount rates. The accumulated benefit obligation consisted of the following at December 31: U.S. Defined Benefit Pension Plans: 2020 2019 (In thousands) Funded plans $ 515,667 $ 493,756 Unfunded plans 4,494 5,213 Total $ 520,161 $ 498,969 Foreign Defined Benefit Pension Plans: 2020 2019 (In thousands) Funded plans $ 295,998 $ 264,675 Unfunded plans 53,090 45,315 Total $ 349,088 $ 309,990 Weighted average assumptions used to determine benefit obligations at December 31: 2020 2019 U.S. Defined Benefit Pension Plans: Discount rate 2.69 % 3.45 % Rate of compensation increase (where applicable) 3.75 % 3.75 % Foreign Defined Benefit Pension Plans: Discount rate 1.27 % 1.83 % Rate of compensation increase (where applicable) 2.50 % 2.50 % The following is a summary of the fair value of plan assets for U.S. plans at December 31: 2020 2019 Asset Class Total Level 1 Level 2 Total Level 1 Level 2 (In thousands) Corporate debt instruments $ 3,442 $ — $ 3,442 $ 3,152 $ — $ 3,152 Corporate debt instruments – Preferred 12,196 — 12,196 10,781 — 10,781 Corporate stocks – Common 62,897 62,897 — 127,221 127,221 — Municipal bonds 876 876 574 — 574 Registered investment companies 236,530 236,530 — 288,076 288,076 — U.S. Government securities 526 — 526 240 — 240 Total investments 316,467 299,427 17,040 430,044 415,297 14,747 Investments measured at net asset value 345,831 — — 191,588 — — Total investments $ 662,298 $ 299,427 $ 17,040 $ 621,632 $ 415,297 $ 14,747 U.S. equity securities and global equity securities categorized as level 1 are traded on national and international exchanges and are valued at their closing prices on the last trading day of the year. For U.S. equity securities and global equity securities not traded on an active exchange, or if the closing price is not available, the trustee obtains indicative quotes from a pricing vendor, broker or investment manager. These securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor. Additionally, some U.S. equity securities and global equity securities are public investment vehicles valued using the Net Asset Value (“NAV”) provided by the fund manager. The NAV is the total value of the fund divided by the number of shares outstanding. Fixed income securities categorized as level 1 are traded on national and international exchanges and are valued at their closing prices on the last trading day of the year and categorized as level 2 if valued by the trustee using pricing models that use verifiable observable market data, bids provided by brokers or dealers or quoted prices of securities with similar characteristics. The expected long-term rate of return on these plan assets was 7.00% in 2020 and 7.50% in 2019. Equity securities included 384,788 shares of AMETEK, Inc. common stock with a market value of $46.5 million (7.0% of total plan investment assets) at December 31, 2020 and 384,788 shares of AMETEK, Inc. common stock with a market value of $38.4 million (6.2% of total plan investment assets) at December 31, 2019. The objectives of the Company’s U.S. defined benefit plans’ investment strategy are to maximize the plans’ funded status and minimize Company contributions and plan expense. Because the goal is to optimize returns over the long term, an investment policy that favors equity holdings has been established. Since there may be periods of time where both equity and mutual fund markets provide poor returns, an allocation to alternative assets may be made to improve the overall portfolio’s diversification and return potential. The Company periodically reviews its asset allocation, taking into consideration plan liabilities, plan benefit payment streams and the investment strategy of the pension plans. The actual asset allocation is monitored frequently relative to the established targets and ranges and is re-balanced when necessary. The target allocations for the U.S. defined benefits plans are approximately 50% equity securities, 20% fixed income securities and 30% other securities and/or cash. The equity portfolio is diversified by market capitalization and style. The equity portfolio also includes international components. The objective of the mutual fund portion of the pension assets is to provide interest rate sensitivity for a portion of the assets and to provide diversification. The mutual fund portfolio is diversified within certain quality and maturity guidelines to minimize the adverse effects of interest rate fluctuations. Certain investments are prohibited and include venture capital, private placements, unregistered or restricted stock, margin trading, commodities, short selling and rights and warrants. Foreign currency futures, options and forward contracts may be used to manage foreign currency exposure. The following is a summary of the fair value of plan assets for foreign defined benefit pension plans at December 31: 2020 2019 Asset Class Total Level 3 Total Level 3 (In thousands) Life insurance $ 20,908 $ 20,908 $ 19,298 $ 19,298 Total investments 20,908 20,908 19,298 19,298 Investments measured at net asset value 229,827 — 205,049 — Total investments $ 250,735 $ 20,908 $ 224,347 $ 19,298 Life insurance assets are considered level 3 investments as their values are determined by the sponsor using unobservable market data. Life insurance assets categorized as level 3 are valued based on unobservable inputs and cannot be corroborated using verifiable observable market data. Investments in level 3 funds are redeemable, however, cash reimbursement may be delayed, or a portion held back until asset finalization. The following is a summary of the changes in the fair value of the foreign plans’ level 3 investments (fair value determined using significant unobservable inputs): Life Insurance (In thousands) Balance, December 31, 2018 $ 18,685 Actual return on assets: Unrealized losses relating to instruments still held at the end of the year $ 613 Realized gains (losses) relating to assets sold during the year $ — Purchases, sales, issuances and settlements, net $ — Balance, December 31, 2019 $ 19,298 Actual return on assets: Unrealized gains (losses) relating to instruments still held at the end of the year $ 1,610 Realized gains (losses) relating to assets sold during the year $ — Purchases, sales, issuances and settlements, net $ — Balance, December 31, 2020 $ 20,908 The objective of the Company’s foreign defined benefit plans’ investment strategy is to maximize the long-term rate of return on plan investments, subject to a reasonable level of risk. Liability studies are also performed on a regular basis to provide guidance in setting investment goals with an objective to balance risks against the current and future needs of the plans. The trustees consider the risk associated with the different asset classes, relative to the plans’ liabilities and how this can be affected by diversification, and the relative returns available on equities, mutual fund investments, real estate and cash. Also, the likely volatility of those returns and the cash flow requirements of the plans are considered. It is expected that equities will outperform mutual fund investments over the long term. However, the trustees recognize the fact that mutual fund investments may better match the liabilities for pensioners. Because of the relatively young active employee group covered by the plans and the immature nature of the plans, the trustees have chosen to adopt an asset allocation strategy more heavily weighted toward equity investments. This asset allocation strategy will be reviewed, from time to time, in view of changes in market conditions and in the plans’ liability profile. The target allocations for the foreign defined benefit plans are approximately 22% equity securities, 21% fixed income securities, 51% multi-asset funds and 6% other securities, insurance or cash. The assumption for the expected return on plan assets was developed based on a review of historical investment returns for the investment categories for the defined benefit pension assets. This review also considered current capital market conditions and projected future investment returns. The estimates of future capital market returns by asset class are lower than the actual long-term historical returns. The current low interest rate environment influences this outlook. Therefore, the assumed rate of return for U.S. plans is 6.75% and 5.47% for foreign plans in 2021. The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with a projected benefit obligation in excess of plan assets and pension plans with an accumulated benefit obligation in excess of plan assets were as follows at December 31: U.S. Defined Benefit Pension Plans: Projected Benefit Accumulated Benefit 2020 2019 2020 2019 (In thousands) Benefit obligation $ 6,842 $ 7,119 $ 6,842 $ 7,119 Fair value of plan assets 1,155 958 1,155 958 Foreign Defined Benefit Pension Plans: Projected Benefit Accumulated Benefit 2020 2019 2020 2019 (In thousands) Benefit obligation $ 349,762 $ 311,783 $ 347,267 $ 309,990 Fair value of plan assets 248,914 224,347 248,914 224,347 The following table provides the amounts recognized in the consolidated balance sheet at December 31: 2020 2019 (In thousands) Funded status asset (liability): Fair value of plan assets $ 913,034 $ 845,979 Projected benefit obligation (883,940) (822,297) Funded status at the end of the year $ 29,094 $ 23,682 Amounts recognized in the consolidated balance sheet consisted of: Non-current asset for pension benefits (other assets) $ 135,628 $ 117,278 Current liabilities for pension benefits (2,174) (1,954) Non-current liability for pension benefits (104,360) (91,642) Net amount recognized at the end of the year $ 29,094 $ 23,682 The following table provides the amounts recognized in accumulated other comprehensive income, net of taxes, at December 31: Net amounts recognized: 2020 2019 (In thousands) Net actuarial loss $ 249,468 $ 242,696 Prior service costs 4,247 4,189 Transition asset 5 6 Total recognized $ 253,720 $ 246,891 The following table provides the components of net periodic pension benefit expense (income) for the years ended December 31 2020 2019 2018 (In thousands) Defined benefit plans: Service cost $ 7,261 $ 6,556 $ 6,879 Interest cost 22,611 26,979 25,678 Expected return on plan assets (54,629) (52,402) (59,325) Settlement — 739 — Amortization of: Net actuarial loss 15,479 15,685 12,092 Prior service costs 486 484 (49) Transition asset 1 1 1 Total net periodic benefit income (8,791) (1,958) (14,724) Other plans: Defined contribution plans 30,829 32,508 28,829 Foreign plans and other 7,902 9,406 6,185 Total other plans 38,731 41,914 35,014 Total net pension expense $ 29,940 $ 39,956 $ 20,290 The total net periodic benefit expense (income) is included in Cost of sales, General and administrative expense and Other income and expense in the consolidated statement of income. The following weighted average assumptions were used to determine the above net periodic pension benefit income for the years ended December 31: 2020 2019 2018 U.S. Defined Benefit Pension Plans: Discount rate 3.45 % 4.40 % 4.40 % Expected return on plan assets 7.00 % 7.50 % 7.50 % Rate of compensation increase (where applicable) 3.75 % 3.75 % 3.75 % Foreign Defined Benefit Pension Plans: Discount rate 1.83 % 2.59 % 2.59 % Expected return on plan assets 5.97 % 6.52 % 6.52 % Rate of compensation increase (where applicable) 2.50 % 2.50 % 2.50 % Estimated Future Benefit Payments The estimated future benefit payments for U.S. and foreign plans are as follows: 2021 – $43.2 million; 2022 – $43.1 million; 2023 – $44.2 million; 2024 – $44.6 million; 2025 – $44.3 million; 2026 to 2030 - $220.9 million. Future benefit payments primarily represent amounts to be paid from pension trust assets. Amounts included that are to be paid from the Company’s assets are not significant in any individual year. Postretirement Plans and Post employment Benefits The Company provides limited postretirement benefits other than pensions for certain retirees and a small number of former employees. Benefits under these arrangements are not funded and are not significant. The Company also provides limited post employment benefits for certain former or inactive employees after employment but before retirement. Those benefits are not significant in amount. The Company has a deferred compensation plan, which allows employees whose compensation exceeds the statutory IRS limit for retirement benefits to defer a portion of earned bonus compensation. The plan permits deferred amounts to be deemed invested in either, or a combination of, (a) an interest-bearing account, benefits from which are payable out of the general assets of the Company, or (b) the equivalent of a fund which invests in shares of the Company’s common stock on behalf of the employee. The amount deferred under the plan, including income earned, was $25.1 million and $19.0 million at December 31, 2020 and 2019, respectively. Administrative expense for the deferred compensation plan is borne by the Company and is not significant.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Indemnifications In conjunction with certain acquisition and divestiture transactions, the Company may agree to make payments to compensate or indemnify other parties for possible future unfavorable financial consequences resulting from specified events (e.g., breaches of contract obligations or retention of previously existing environmental, tax or employee liabilities) whose terms range in duration and often are not explicitly defined. Where appropriate, the obligation for such indemnifications is recorded as a liability. Because the amount of these types of indemnifications generally is not specifically stated, the overall maximum amount of the obligation under such indemnifications cannot be reasonably estimated. Further, the Company indemnifies its directors and officers for claims against them in connection with their positions with the Company. Historically, any such costs incurred to settle claims related to these indemnifications have been minimal for the Company. The Company believes that future payments, if any, under all existing indemnification agreements would not have a material impact on its consolidated results of operations, financial position or cash flows. Asbestos Litigation The Company (including its subsidiaries) has been named as a defendant in a number of asbestos-related lawsuits. Certain of these lawsuits relate to a business which was acquired by the Company and do not involve products which were manufactured or sold by the Company. In connection with these lawsuits, the seller of such business has agreed to indemnify the Company against these claims (the “Indemnified Claims”). The Indemnified Claims have been tendered to, and are being defended by, such seller. The seller has met its obligations, in all respects, and the Company does not have any reason to believe such party would fail to fulfill its obligations in the future. To date, no judgments have been rendered against the Company as a result of any asbestos-related lawsuit. The Company believes that it has good and valid defenses to each of these claims and intends to defend them vigorously. Environmental Matters Certain historic processes in the manufacture of products have resulted in environmentally hazardous waste by-products as defined by federal and state laws and regulations. At December 31, 2020, the Company is named a Potentially Responsible Party (“PRP”) at 13 non-AMETEK-owned former waste disposal or treatment sites (the “non-owned”sites). The Company is identified as a “de minimis” party in 12 of these sites based on the low volume of waste attributed to the Company relative to the amounts attributed to other named PRPs. In eight of these sites, the Company has reached a tentative agreement on the cost of the de minimis settlement to satisfy its obligation and is awaiting executed agreements. The tentatively agreed-to settlement amounts are fully accrued. In the other four sites, the Company is continuing to investigate the accuracy of the alleged volume attributed to the Company as estimated by the parties primarily responsible for remedial activity at the sites to establish an appropriate settlement amount. At the remaining site where the Company is a non-deminimis PRP, the Company is participating in the investigation and/or related required remediation as part of a PRP Group and reserves have been established sufficient to satisfy the Company’s expected obligations. The Company historically has resolved these issues within established reserve levels and reasonably expects this result will continue. In addition to these non-owned sites, the Company has an ongoing practice of providing reserves for probable remediation activities at certain of its current or previously owned manufacturing locations (the “owned” sites). For claims and proceedings against the Company with respect to other environmental matters, reserves are established once the Company has determined that a loss is probable and estimable. This estimate is refined as the Company moves through the various stages of investigation, risk assessment, feasibility study and corrective action processes. In certain instances, the Company has developed a range of estimates for such costs and has recorded a liability based on the best estimate. It is reasonably possible that the actual cost of remediation of the individual sites could vary from the current estimates and the amounts accrued in the consolidated financial statements; however, the amounts of such variances are not expected to result in a material change to the consolidated financial statements. In estimating the Company’s liability for remediation, the Company also considers the likely proportionate share of the anticipated remediation expense and the ability of the other PRPs to fulfill their obligations. Total environmental reserves at December 31, 2020 and 2019 were $32.4 million and $28.9 million, respectively, for both non-owned and owned sites. In 2020, the Company recorded $9.2 million in reserves. Additionally, in 2020 the Company spent $5.6 million on environmental matters and the reserve decreased $0.1 million due to foreign currency translation. The Company’s reserves for environmental liabilities at December 31, 2020 and 2019 included reserves of $7.4 million and $9.0 million, respectively, for an owned site acquired in connection with the 2005 acquisition of HCC Industries (“HCC”). The Company is the designated performing party for the performance of remedial activities for one of several operating units making up a Superfund site in the San Gabriel Valley of California. The Company has obtained indemnifications and other financial assurances from the former owners of HCC related to the costs of the required remedial activities. The Company has agreements with other former owners of certain of its acquired businesses, as well as new owners of previously owned businesses. Under certain of the agreements, the former or new owners retained, or assumed and agreed to indemnify the Company against, certain environmental and other liabilities under certain circumstances. The Company and some of these other parties also carry insurance coverage for some environmental matters. To date, these parties have met their obligations in all material respects.

Leases and Other Commitments

Leases and Other Commitments	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases and Other Commitments	Leases and Other Commitments Leases The Company determines if an arrangement is a lease at inception. This determination generally depends on whether the arrangement conveys to the Company the right to control the use of an explicitly or implicitly identified fixed asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed to the Company if the Company obtains the rights to direct the use of and to obtain substantially all of the economic benefits from using the underlying asset. The Company has lease agreements which include lease and non-lease components, which the Company has elected to account for as a single lease component for all classes of underlying assets. Lease expense for variable lease components are recognized when the obligation is probable. Operating leases are included in right-of-use ("ROU") assets, accrued liabilities and other, and other long-term liabilities on our consolidated balance sheets. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Operating lease payments are recognized as lease expense on a straight-line basis over the lease term. The Company has no material finance leases. The Company primarily leases buildings (real estate) and automobiles which are classified as operating leases. ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As an implicit interest rate is not readily determinable in our leases, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The lease term for all of the Company’s leases includes the non-cancellable period of the lease plus any additional periods covered by either a Company option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. Options for lease renewals have been excluded from the lease term (and lease liability) for the majority of the Company’s leases as the reasonably certain threshold is not met. In a small number of the Company’s leases, the options for renewals have been included in the lease term as the reasonably certain threshold is met due to the Company having significant economic incentive for extending the lease. Lease payments included in the measurement of the lease liability are comprised of fixed payments, variable payments that depend on an index or rate and amounts probable to be payable under the exercise of the Company option to purchase the underlying asset if reasonably certain. Variable lease payments not dependent on a rate or index associated with the Company’s leases are recognized when the events, activities, or circumstances in the lease agreement on which those payments are assessed are probable. Variable lease payments are presented as operating expense in the Company’s income statement in the same line item as expense arising from fixed lease payments. Cash used in operations for operating leases is not materially different than total lease costs. The Company has commitments under operating leases for certain facilities, vehicles and equipment used in its operations. Our leases have initial lease terms ranging from 1 month to 14 years, with the exception of a single land lease with 63 years remaining. Certain lease agreements contain provisions for future rent increases. The components of lease expense were as follows: 2020 2019 (In thousands) Operating lease cost $ 44,498 $ 45,438 Variable lease cost 4,526 7,813 Total lease cost $ 49,024 $ 53,251 Rental expense was $52.5 million in 2018. Supplemental balance sheet information related to leases was as follows: December 31, 2020 2019 (In thousands) Right of use assets, net $ 167,233 $ 179,679 Lease liabilities included in Accrued liabilities and other 44,948 43,025 Lease liabilities included in Other long-term liabilities 128,173 142,620 Total lease liabilities $ 173,121 $ 185,645 Supplemental cash flow information and other information related to leases was as follows for the year ended December 31: 2020 2019 (In thousands) Right-of-use assets obtained in exchange for new operating liabilities $ 35,923 $ 40,793 Weighted-average remaining lease terms – operating leases (years) 5.44 5.93 Weighted-average discount rate – operating leases 3.40 % 3.72 % Maturities of lease liabilities as of December 31, 2020 were as follows: Lease Liability Maturity Analysis Operating Leases (In thousands) 2021 $ 50,334 2022 41,651 2023 31,377 2024 21,354 2025 15,469 Thereafter 29,967 Total lease payments 190,152 Less: imputed interest 17,031 $ 173,121 The Company does not have any significant leases that have not yet commenced. Other Commitments As of December 31, 2020, and 2019, the Company had $494.1 million and $505.2 million, respectively, in purchase obligations outstanding, which primarily consisted of contractual commitments to purchase certain inventories at fixed prices.

Reportable Segments and Geograp

Reportable Segments and Geographic Areas Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Reportable Segments and Geographic Areas Information	Reportable Segments and Geographic Areas Information Descriptive Information about Reportable Segments The Company has two reportable segments, EIG and EMG. The Company’s operating segments are identified based on the existence of segment managers. Certain of the Company’s operating segments have been aggregated for segment reporting purposes primarily on the basis of product type, production processes, distribution methods and similarity of economic characteristics. EIG manufactures advanced instruments for the process, power and industrial, and aerospace markets. It provides process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries. EIG also provides instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets. It makes power quality monitoring and metering devices, uninterruptible power supplies, programmable power equipment, electromagnetic compatibility test equipment and gas turbines sensors. EIG also provides dashboard instruments for heavy trucks and other vehicles, as well as instrumentation and controls for the food and beverage industries. It supplies the aerospace industry with aircraft and engine sensors, monitoring systems, power supplies, fuel and fluid measurement systems, and data acquisition systems. EMG is a differentiated supplier of automation solutions, thermal management systems, specialty metals and electrical interconnects. It manufactures highly engineered electrical connectors and electronic packaging used to protect sensitive electronic devices. EMG also makes precision motion control products for data storage, medical devices, business equipment, automation and other applications. It supplies high-purity powdered metals, strip and foil, specialty clad metals and metal matrix composites. EMG also manufactures motors used in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps and industrial blowers. It produces motor-blower systems and heat exchangers used in thermal management and other applications on a variety of military and commercial aircraft and military ground vehicles. EMG also operates a global network of aviation maintenance, repair and overhaul facilities. Measurement of Segment Results Segment operating income represents net sales less all direct costs and expenses (including certain administrative and other expenses) applicable to each segment but does not include interest expense. Net sales by segment are reported after elimination of intra- and inter-segment sales and profits, which are insignificant in amount. Reported segment assets include allocations directly related to the segment’s operations. Corporate assets consist primarily of investments, prepaid pensions, insurance deposits and deferred taxes. Reportable Segment Financial Information 2020 2019 2018 (In thousands) Operating income and income before income taxes: Segment operating income (1) : Electronic Instruments $ 770,620 $ 865,307 $ 782,144 Electromechanical 324,962 387,931 363,765 Total segment operating income 1,095,582 1,253,238 1,145,909 Corporate administrative expenses (67,698) (75,858) (70,369) Consolidated operating income 1,027,884 1,177,380 1,075,540 Interest and other income (expenses), net 54,425 (107,632) (87,795) Consolidated income before income taxes $ 1,082,309 $ 1,069,748 $ 987,745 Assets: Electronic Instruments $ 6,554,414 $ 6,651,920 Electromechanical 2,646,985 2,818,155 Total segment assets 9,201,399 9,470,075 Corporate 1,156,084 374,484 Consolidated assets $ 10,357,483 $ 9,844,559 Additions to property, plant and equipment (2) : Electronic Instruments $ 48,638 $ 74,994 $ 110,858 Electromechanical 26,381 42,924 42,461 Total segment additions to property, plant and equipment 75,019 117,918 153,319 Corporate 1,007 4,770 3,496 Consolidated additions to property, plant and equipment $ 76,026 $ 122,688 $ 156,815 Depreciation and amortization: Electronic Instruments $ 174,494 $ 153,111 $ 121,709 Electromechanical 78,297 78,664 75,801 Total segment depreciation and amortization 252,791 231,775 197,510 Corporate 2,484 2,267 1,980 Consolidated depreciation and amortization $ 255,275 $ 234,042 $ 199,490 ___________________ (1) Segment operating income represents net sales less all direct costs and expenses (including certain administrative and other expenses) applicable to each segment but does not include interest expense. (2) Includes $1.8 million in 2020, $20.3 million in 2019 and $74.6 million in 2018 from acquired businesses. Geographic Areas Information about the Company’s operations in different geographic areas for the years ended December 31, 2020 and 2019 is shown below. 2020 2019 (In thousands) Long-lived assets from continuing operations (excluding intangible assets): United States $ 344,535 $ 370,144 International (1) : United Kingdom 55,519 57,675 European Union countries 82,256 78,500 Asia 14,066 12,869 Other foreign countries 30,154 29,720 Total international 181,995 178,764 Total consolidated $ 526,530 $ 548,908 _________________ (1) Represents long-lived assets of foreign-based operations only.

Additional Consolidated Income

Additional Consolidated Income Statement and Cash Flow Information	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Consolidated Income Statement and Cash Flow Information	Additional Consolidated Income Statement and Cash Flow Information Included in other income (expense), net are interest and other investment income of $2.7 million, $4.6 million and $2.0 million for 2020, 2019 and 2018, respectively. Income taxes paid in 2020, 2019 and 2018 were $210.4 million, $221.6 million and $195.2 million, respectively. Cash paid for interest was $86.2 million, $84.9 million and $83.6 million in 2020, 2019 and 2018, respectively.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity In 2019, the Company repurchased approximately 133,000 shares of its common stock for $11.9 million in cash under its share repurchase authorization. On February 12, 2019, the Company’s Board of Directors approved an increase of $500 million in the authorization for the repurchase of the Company’s common stock. In 2020, the Company repurchased approximately 55,000 shares of its common stock for $4.7 million in cash under its share repurchase authorization. At December 31, 2020, $484.4 million was available under the Company’s Board of Directors authorization for future share repurchases. Effective February 12, 2020, the Company’s Board of Directors approved a 29% increase in the quarterly cash dividend on the Company’s common stock to $0.18 per common share from $0.14 per common share. At December 31, 2020, the Company held 36,227,061 shares in its treasury at a cost of $1,565.3 million, compared with 36,500,908 shares at a cost of $1,574.5 million at December 31, 2019. The number of shares outstanding at December 31, 2020 was 230.5 million shares, compared with 229.1 million shares at December 31, 2019. Subsequent Event Effective February 11, 2021, the Company's Board of Directors approved an 11% increase in the quarterly cash dividend on the Company's common stock to $0.20 per common share from $0.18 per common share.

Restructuring and Related Activ

Restructuring and Related Activities	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Realignment Costs	Realignment CostsDuring the year ended December 31, 2020, the Company recorded pre-tax realignment costs totaling $43.9 million, which had the effect of reducing net income by $33.6 million (0.15 per diluted share). The realignment costs were reported in the consolidated statement of income as follows: $43.7 million in Cost of sales and $0.2 million in Selling, general and administrative expenses. The realignment costs were reported in segment operating income as follows: $22.8 million in EIG, $20.9 million in EMG. The realignment actions primarily related to a reduction in workforce and asset write-downs, the majority in inventory, in response to the weak global economy as a result of the COVID-19 pandemic. The realignment activities have been broadly implemented across the Company’s various businesses with substantially all actions are expected to be completed by mid-2021. Accrued liabilities and other in the Company’s consolidated balance sheet included amounts related to the first quarter of 2020 realignment costs as follows (in millions): Balance at December 31, 2019 $ — Pre-tax charges 43.9 Utilization (21.2) Foreign currency translation and other 0.4 Balance at December 31, 2020 $ 23.1

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation The accompanying consolidated financial statements reflect the results of operations, financial position and cash flows of AMETEK, Inc. (the “Company”), and include the accounts of the Company and subsidiaries, after elimination of all intercompany transactions in the consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and assumptions.
Cash Equivalents, Securities and Other Investments	Cash Equivalents, Securities and Other Investments All highly liquid investments with maturities of three months or less when purchased are considered cash equivalents.
Accounts Receivable	Accounts Receivable The Company maintains allowances for estimated credit losses resulting from the inability of customers to meet their financial obligations to the Company. The Company recognizes an allowance for credit losses, on all accounts receivable and contract assets, which considers risk of future credit losses based on factors such as historical experience, contract terms, as well as general and market business conditions, country, and political risk. Balances are written off when considered uncollectible. Bad debt expense was $3.6 million in 2020, $2.8 million in 2019 and $1.7 million in 2018. At December 31, 2020 and 2019, the allowance for estimated credit losses was $12.7 million and $11.2 million, respectively.
Inventories	Inventories The Company uses the first-in, first-out (“FIFO”) method of accounting, which approximates current replacement cost, for approximately 88% of its inventories at December 31, 2020. The last-in, first-out (“LIFO”) method of accounting is used to determine cost for the remaining 12% of the Company’s inventory at December 31, 2020. For inventories where cost is determined by the LIFO method, the FIFO value would have been $22.8 million and $23.4 million higher than the LIFO value reported in the consolidated balance sheet at December 31, 2020 and 2019, respectively. The Company provides estimated inventory reserves for slow-moving and obsolete inventory based on current assessments about future demand, market conditions, customers who may be experiencing financial difficulties and related management initiatives.
Business Combinations	Business Combinations The Company allocates the purchase price of an acquired company, including when applicable, the acquisition date fair value of contingent consideration between tangible and intangible assets acquired and liabilities assumed from the acquired business based on their estimated fair values, with the residual of the purchase price recorded as goodwill. The results of operations of the acquired business are included in the Company’s operating results from the date of acquisition.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost. Expenditures for additions to plant facilities, or that extend their useful lives, are capitalized. The cost of minor tools, jigs and dies, and maintenance and repairs is charged to expense as incurred. Depreciation of plant and equipment is calculated principally on a straight-line basis over the estimated useful lives of the related assets. The range of lives for depreciable assets is generally three five
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill and other intangible assets with indefinite lives, primarily trademarks and trade names, are not amortized; rather, they are tested for impairment at least annually. The Company identifies its reporting units at the component level, which is one level below its operating segments. Generally, goodwill arises from acquisitions of specific operating companies and is assigned to the reporting unit in which the operating company resides. The Company’s reporting units are divisions that are one level below its operating segments and for which discrete financial information is prepared and regularly reviewed by segment management. The Company principally relies on a discounted cash flow analysis to determine the fair value of each reporting unit, which considers forecasted cash flows discounted at an appropriate discount rate. The Company believes that market participants would use a discounted cash flow analysis to determine the fair value of its reporting units in a sale transaction. The annual goodwill impairment test requires the Company to make several assumptions and estimates concerning future levels of revenue growth, operating margins, depreciation, amortization and working capital requirements, which are based on the Company’s long-range plan and are considered level 3 inputs. The Company’s long-range plan is updated as part of its annual planning process and is reviewed and approved by management. The discount rate is an estimate of the overall after-tax rate of return required by a market participant whose weighted average cost of capital includes both equity and debt, including a risk premium. While the Company uses the best available information to prepare its cash flow and discount rate assumptions, actual future cash flows or market conditions could differ significantly resulting in future impairment charges related to recorded goodwill balances. The impairment test for indefinite-lived intangibles other than goodwill (primarily trademarks and trade names) consists of a comparison of the fair value of the indefinite-lived intangible asset to the carrying value of the asset as of the impairment testing date. The Company estimates the fair value of its indefinite-lived intangibles using the relief from royalty method using level 3 inputs for revenue growth rates and royalty rates. The fair value derived from the relief from royalty method is measured as the discounted cash flow savings realized from owning such trademarks and trade names and not having to pay a royalty for their use. The Company completed its required annual impairment tests in the fourth quarter of 2020, 2019 and 2018 and determined that the carrying values of the Company’s goodwill were not impaired. The Company completed its required annual impairment tests in the fourth quarter of 2020, 2019 and 2018 and determined that the carrying values of the Company’s other intangible assets with indefinite lives were not impaired. Other intangible assets with finite lives are evaluated for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of other intangible assets with finite lives is considered impaired when the total projected undiscounted cash flows from the asset group are less than the carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of those assets. Fair value is determined primarily using present value techniques based on projected cash flows from the asset group. nine ten
Financial Instruments and Foreign Currency Translation	Financial Instruments and Foreign Currency Translation Assets and liabilities of foreign operations are translated using exchange rates in effect at the balance sheet date and their results of operations are translated using average exchange rates for the year. Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Exchange gains and losses from those transactions are included in operating results for the year. The Company makes infrequent use of derivative financial instruments. Forward contracts are entered into from time to time to hedge certain inventory purchases, export sales, debt or foreign currency transactions, thereby minimizing the Company’s exposure to raw material commodity price or foreign currency fluctuation.
Revenue Recognition	Revenue Recognition Revenue is derived from sales of products and services. The Company’s products and services are marketed and sold worldwide through two operating groups: EIG and EMG. See Note 15 Descriptive Information about Reportable Segments.
Research and Development	Research and Development Research and development costs are included in Cost of sales as incurred and were $158.9 million in 2020, $161.9 million in 2019 and $141.0 million in 2018.
Shipping and Handling Costs	Shipping and Handling Costs Shipping and handling costs are included in Cost of sales and were $56.8 million in 2020, $66.7 million in 2019 and $62.7 million in 2018.
Share-Based Compensation	Share-Based Compensation The Company expenses the fair value of share-based awards made under its share-based plans in the consolidated financial statements over their requisite service period of the grants.
Income Taxes	Income Taxes The Company’s process of providing for income taxes and determining the related balance sheet accounts requires management to assess uncertainties, make judgments regarding outcomes and utilize estimates. The Company conducts a broad range of operations around the world and is therefore subject to complex tax regulations in numerous international taxing jurisdictions, resulting at times in tax audits, disputes and potential litigation, the outcome of which is uncertain. Management must make judgments currently about such uncertainties and determine estimates of the Company’s tax assets and liabilities. To the extent the final outcome differs, future adjustments to the Company’s tax assets and liabilities may be necessary. The Company recognizes interest and penalties accrued related to uncertain tax positions in income tax expense. The Company assesses the realizability of its deferred tax assets, taking into consideration the Company’s forecast of future taxable income, available net operating loss carryforwards and available tax planning strategies that could be implemented to realize the deferred tax assets. Based on this assessment, management must evaluate the need for, and amount of, valuation allowances against the Company’s deferred tax assets. To the extent facts and circumstances change in the future, adjustments to the valuation allowances may be required. The Company assesses the uncertainty in its tax positions, by applying a minimum recognition threshold which a tax position is required to meet before a tax benefit is recognized in the financial statements. Once the minimum threshold is met, using a more likely than not standard, a series of probability estimates is made for each item to properly measure and record a tax benefit. The tax benefit recorded is generally equal to the highest probable outcome that is more than 50% likely to be realized after full disclosure and resolution of a tax examination. The underlying probabilities are determined based on the best available objective evidence such as recent tax audit outcomes, published guidance, external expert opinion, or by analogy to the outcome of similar issues in the past. There can be no assurance that these estimates will ultimately be realized given continuous changes in tax policy, legislation and audit practice. The Company recognizes interest and penalties accrued related to uncertain tax positions in income tax expense.
Pensions	Pensions The Company has U.S. and foreign defined benefit and defined contribution pension plans. The most significant assumptions in determining the Company’s pension income or expense are the assumed pension liability discount rate and the expected return on plan assets. All unrecognized prior service costs, remaining transition obligations or assets and actuarial gains and losses have been recognized, net of tax effects, as a charge to accumulated other comprehensive income in stockholders’ equity and will be amortized as a component of net periodic pension cost. The Company uses a measurement date of December 31 (its fiscal year end) for its U.S. and foreign defined benefit plans.
Earnings Per Share	Earnings Per Share The calculation of basic earnings per share is based on the weighted average number of common shares considered outstanding during the periods. The calculation of diluted earnings per share reflects the effect of all potentially dilutive securities (principally outstanding stock options and restricted stock grants).
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The ASU replaces the incurred loss methodology with a methodology that reflects expected credit losses and requires consideration of a broad range of reasonable and supportable information to inform credit loss estimates. The Company adopted ASU 2016-13 on January 1, 2020, using the modified retrospective transition method. The adoption of ASU 2016-13 did not have a material impact on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures. Upon adoption, the Company recognized a decrease to net Accounts Receivable and a decrease to Retained Earnings of $0.4 million. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (“ASU 2018-13”), which changes the fair value measurement disclosure requirements of ASC Topic 820, Fair Value Measurement (“ASC 820”), by eliminating, modifying and adding to those requirements. ASU 2018-13 also modifies the disclosure objective paragraphs of ASC 820 to eliminate (1) “ at a minimum” from the phrase “an entity shall disclose at a minimum” and (2) other similar “open ended” disclosure requirements to promote the appropriate exercise of discretion by entities. The Company adopted ASU 2018-13 on January 1, 2020, and the adoption did not have a material impact on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (“ASU 2018-15”), that requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customer in a software licensing arrangement under the internal-use software guidance in ASC Topic 350, Intangibles – Goodwill and Other . ASU 2018-15 requires a customer to disclose the nature of its hosting arrangements that are service contracts and provide disclosures as if the deferred implementation costs were a separate, major depreciable asset class. The Company adopted ASU 2018-15 on January 1, 2020, and the adoption did not have a material impact on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures. In August 2018, the FASB issued ASU No. 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans – General (“ASU 2018-14”), which changes the disclosure requirements of ASC Topic 715, Compensation – Retirement Benefits , by eliminating, modifying and adding to those requirements. The Company adopted ASU 2018-14 on January 1, 2020, and the adoption did not have a material impact on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures. Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020. Early adoption is permitted and the amendments in this ASU should be applied on a retrospective basis to all periods presented. The Company has not determined the impact ASU 2019-12 may have on the Company’s consolidated results of operations, financial position, cash flows or financial statement disclosures.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Number of Weighted Average Shares	The number of weighted average shares used in the calculation of basic earnings per share and diluted earnings per share was as follows for the years ended December 31: 2020 2019 2018 (In thousands) Weighted average shares: Basic shares 229,435 227,759 230,823 Equity-based compensation plans 1,715 1,636 1,889 Diluted shares 231,150 229,395 232,712

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of outstanding contract asset and (liability) accounts	The outstanding contract asset and liability accounts were as follows: 2020 2019 (In thousands) Contract assets – January 1 $ 73,039 $ 58,266 Contract assets – December 31 68,971 73,039 Change in contract assets – (decrease) increase (4,068) 14,773 Contract liabilities – January 1 167,306 146,162 Contract liabilities – December 31 215,093 167,306 Change in contract liabilities – increase (47,787) (21,144) Net change $ (51,855) $ (6,371)
Schedule of revenue from external customers by geographic areas	Information about the Company’s operations in different geographic areas was as follows for the year ended December 31: 2020 EIG EMG Total (In thousands) United States $ 1,513,967 $ 816,159 $ 2,330,126 International (1) : United Kingdom 54,158 117,469 171,627 European Union countries 371,884 324,203 696,087 Asia 769,532 189,987 959,519 Other foreign countries 280,387 102,283 382,670 Total international 1,475,961 733,942 2,209,903 Consolidated net sales $ 2,989,928 $ 1,550,101 $ 4,540,029 _________________ (1) Includes U.S. export sales of $1,196.4 million. 2019 EIG EMG Total (In thousands) United States $ 1,685,369 $ 998,317 $ 2,683,686 International (1) : United Kingdom 64,423 132,485 196,908 European Union countries 434,072 392,283 826,355 Asia 773,034 186,535 959,569 Other foreign countries 365,983 126,056 492,039 Total international 1,637,512 837,359 2,474,871 Consolidated net sales $ 3,322,881 $ 1,835,676 $ 5,158,557 _________________ (1) Includes U.S. export sales of $1,306.2 million. 2018 EIG EMG Total (In thousands) United States $ 1,446,974 $ 950,358 $ 2,397,332 International (1) : United Kingdom 61,513 135,077 196,590 European Union countries 389,032 399,547 788,579 Asia 780,135 205,047 985,182 Other foreign countries 351,305 126,884 478,189 Total international 1,581,985 866,555 2,448,540 Consolidated net sales $ 3,028,959 $ 1,816,913 $ 4,845,872 _________________
Schedule of revenue from external customers by products and services	The Company’s major products and services in the reportable segments were as follows for the year ended December 31: 2020 EIG EMG Total (In thousands) Process and analytical instrumentation $ 2,199,167 $ — $ 2,199,167 Aerospace and power 790,761 466,343 1,257,104 Automation and engineered solutions — 1,083,758 1,083,758 Consolidated net sales $ 2,989,928 $ 1,550,101 $ 4,540,029 2019 EIG EMG Total (In thousands) Process and analytical instrumentation $ 2,393,587 $ — $ 2,393,587 Aerospace and power 929,294 491,171 1,420,465 Automation and engineered solutions — 1,344,505 1,344,505 Consolidated net sales $ 3,322,881 $ 1,835,676 $ 5,158,557 2018 EIG EMG Total (In thousands) Process and analytical instrumentation $ 2,120,448 $ — $ 2,120,448 Aerospace and power 908,511 456,517 1,365,028 Automation and engineered solutions — 1,360,396 1,360,396 Consolidated net sales $ 3,028,959 $ 1,816,913 $ 4,845,872
Schedule of disaggregation of revenue	The Company’s timing of revenue recognition was as follows for the year ended December 31: 2020 EIG EMG Total (In thousands) Products transferred at a point in time $ 2,427,254 $ 1,390,574 $ 3,817,828 Products and services transferred over time 562,674 159,527 722,201 Consolidated net sales $ 2,989,928 $ 1,550,101 $ 4,540,029 2019 EIG EMG Total (In thousands) Products transferred at a point in time $ 2,680,296 $ 1,670,448 $ 4,350,744 Products and services transferred over time 642,585 165,228 807,813 Consolidated net sales $ 3,322,881 $ 1,835,676 $ 5,158,557 2018 EIG EMG Total (In thousands) Products transferred at a point in time $ 2,533,718 $ 1,690,124 $ 4,223,842 Products and services transferred over time 495,241 126,789 622,030 Consolidated net sales $ 3,028,959 $ 1,816,913 $ 4,845,872
Schedule of product warranty liability	Changes in the accrued product warranty obligation were as follows: 2020 2019 2018 (In thousands) Balance at the beginning of the year $ 27,611 $ 23,482 $ 22,872 Accruals for warranties issued during the year 12,000 21,145 13,897 Settlements made during the year (14,602) (19,637) (14,509) Warranty accruals related to acquired businesses and other during the year 2,830 2,621 1,222 Balance at the end of the year $ 27,839 $ 27,611 $ 23,482

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Assets Measured on Recurring Basis	The following table provides the Company’s assets that are measured at fair value on a recurring basis, consistent with the fair value hierarchy, at December 31: 2020 2019 Fair Value Fair Value (In thousands) Mutual fund investments $ 8,969 $ 8,390
Fair Value Disclosures of Financial Instrument Liabilities	The following table provides the estimated fair values of the Company’s financial instrument liabilities, for which fair value is measured for disclosure purposes only, compared to the recorded amounts at December 31: 2020 2019 Recorded Fair Value Recorded Fair Value (In thousands) Long-term debt, net (including current portion) $ (2,347,587) $ (2,550,956) $ (2,382,041) $ (2,531,549)

Acquisitions and Divestiture (T

Acquisitions and Divestiture (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Allocation of Aggregate Purchase Price of Acquired Net Assets	The following table represents the allocation of the aggregate purchase price for the net assets of the IntelliPower acquisition based on the estimated fair values at acquisition (in millions): Property, plant and equipment $ 1.8 Goodwill 57.3 Other intangible assets 59.5 Deferred income taxes (12.4) Net working capital and other (1) 10.3 Total cash paid $ 116.5 ______________________ (1) Includes $6.4 million in accounts receivable, whose fair value, contractual cash flows and expected cash flows are approximately equal.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amounts of Goodwill by Segment	The changes in the carrying amounts of goodwill by segment were as follows: EIG EMG Total (In millions) Balance at December 31, 2018 $ 2,452.0 $ 1,160.0 $ 3,612.0 Goodwill acquired 398.9 42.3 441.2 Purchase price allocation adjustments and other 35.5 (50.0) (14.5) Foreign currency translation adjustments 5.8 3.0 8.8 Balance at December 31, 2019 2,892.2 1,155.3 4,047.5 Goodwill acquired 57.3 — 57.3 Purchase price allocation adjustments and other 74.6 — 74.6 Foreign currency translation adjustments 26.2 19.3 45.5 Balance at December 31, 2020 $ 3,050.3 $ 1,174.6 $ 4,224.9
Other Intangible Assets	Other intangible assets were as follows at December 31: 2020 2019 (In thousands) Definite-lived intangible assets (subject to amortization): Patents $ 49,396 $ 47,872 Purchased technology 487,517 517,464 Customer lists 2,326,934 2,282,184 2,863,847 2,847,520 Accumulated amortization: Patents (37,858) (36,697) Purchased technology (209,308) (164,231) Customer lists (745,945) (625,591) (993,111) (826,519) Net intangible assets subject to amortization 1,870,736 2,021,001 Indefinite-lived intangible assets (not subject to amortization): Trademarks and trade names 752,983 741,871 $ 2,623,719 $ 2,762,872

Other Consolidated Balance Sh_2

Other Consolidated Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Consolidated Balance Sheet Information	December 31, 2020 2019 (In thousands) INVENTORIES, NET Finished goods and parts $ 81,619 $ 99,773 Work in process 102,945 118,240 Raw materials and purchased parts 374,607 406,554 $ 559,171 $ 624,567 PROPERTY, PLANT AND EQUIPMENT, NET Land $ 33,382 $ 33,516 Buildings 302,158 295,891 Machinery and equipment 1,119,419 1,074,643 1,454,959 1,404,050 Less: Accumulated depreciation (928,429) (855,142) $ 526,530 $ 548,908 December 31, 2020 2019 (In thousands) ACCRUED LIABILITIES AND OTHER Employee compensation and benefits $ 124,347 $ 137,951 Product warranty obligation 27,839 27,611 Realignment 32,904 23,825 Short term lease liability 44,948 43,025 Liabilities held for sale — 23,405 Other 119,694 108,263 $ 349,732 $ 364,080

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of Income before Income Taxes and Details of Provision for Income Taxes	The components of income before income taxes and the details of the provision for income taxes were as follows for the years ended December 31: 2020 2019 2018 (In thousands) Income before income taxes: Domestic $ 810,844 $ 766,436 $ 555,077 Foreign 271,465 303,312 432,668 Total $ 1,082,309 $ 1,069,748 $ 987,745 Provision for income taxes: Current: Federal $ 126,427 $ 88,526 $ 204,712 Foreign 61,672 81,452 51,686 State 19,932 19,093 27,096 Total current 208,031 189,071 283,494 Deferred: Federal (1,254) 18,005 (62,095) Foreign (4,072) (29) (3,872) State 7,165 1,404 (7,715) Total deferred 1,839 19,380 (73,682) Total provision $ 209,870 $ 208,451 $ 209,812
Components of Deferred Tax (Asset) Liability	Significant components of the deferred tax (asset) liability were as follows at December 31: 2020 2019 (In thousands) Non-current deferred tax (asset) liability: Differences in basis of property and accelerated depreciation (1) $ 46,023 $ 45,747 Reserves not currently deductible (61,872) (44,239) Pensions 39,256 39,820 Differences in basis of intangible assets and accelerated amortization 565,661 537,534 Net operating loss carryforwards (26,767) (41,782) Share-based compensation (13,780) (12,060) Foreign Tax Credit Carryforwards (261) (333) Unremitted earnings 10,657 12,977 Other (43,507) (20,889) 515,410 516,775 Less: Valuation allowance 5,965 7,146 521,375 523,921 Portion included in non-current assets 12,103 12,219 Gross non-current deferred tax liability $ 533,478 $ 536,140 ______________________ (1) Presented net of deferred tax asset of approximately $32.4 million and $35.1 million at December 31, 2020 and 2019, respectively, associated with ASC 842.
Reconciliation of Effective Tax Rate to U.S. Federal Statutory Rate	The Company’s effective tax rate reconciles to the U.S. Federal statutory rate as follows for the years ended December 31: 2020 2019 2018 U.S. Federal statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax benefit 2.3 1.8 1.2 Foreign operations, net (1.4) (0.9) (0.1) U.S. Benefits for Manufacturing, Export and credits (1.9) (2.0) (1.8) Uncertain Tax Items (1.3) (1.0) 1.7 Stock compensation (1.0) (1.5) (0.5) Net deferred tax revaluation — — (0.1) US Tax on Foreign Earnings 2.1 2.3 (0.1) Other (0.4) (0.2) (0.1) Consolidated effective tax rate 19.4 % 19.5 % 21.2 %
Reconciliation of Liability for Uncertain Tax Positions	The following is a reconciliation of the liability for uncertain tax positions at December 31: 2020 2019 2018 (In millions) Balance at the beginning of the year $ 109.1 $ 119.3 $ 60.3 Additions for tax positions related to the current year 15.6 17.5 21.8 Additions for tax positions of prior years 6.2 2.8 53.5 Reductions for tax positions of prior years (0.3) (1.3) (3.9) Reductions related to settlements with taxing authorities (0.5) (0.9) — Reductions due to statute expirations (29.4) (28.3) (12.4) Balance at the end of the year $ 100.7 $ 109.1 $ 119.3

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt, net consisted of the following at December 31: 2020 2019 (In thousands) U.S. dollar 3.73% senior notes due September 2024 $ 300,000 $ 300,000 U.S. dollar 3.91% senior notes due June 2025 50,000 50,000 U.S. dollar 3.96% senior notes due August 2025 100,000 100,000 U.S. dollar 4.18% senior notes due December 2025 275,000 275,000 U.S. dollar 3.83% senior notes due September 2026 100,000 100,000 U.S. dollar 4.32% senior notes due December 2027 250,000 250,000 U.S. dollar 4.37% senior notes due December 2028 50,000 50,000 U.S. dollar 3.98% senior notes due September 2029 100,000 100,000 U.S. dollar 4.45% senior notes due August 2035 50,000 50,000 British pound 4.68% senior note due September 2020 — 106,140 British pound 2.59% senior note due November 2028 204,880 199,011 British pound 2.70% senior note due November 2031 102,433 99,508 Euro 1.34% senior notes due October 2026 366,806 336,797 Euro 1.71% senior notes due December 2027 91,706 84,202 Euro 1.53% senior notes due October 2028 244,572 224,553 Swiss franc 2.44% senior note due December 2021 62,190 56,830 Revolving credit facility borrowings 72,145 384,816 Other, principally foreign — 9,234 Less: Debt issuance costs (6,007) (7,350) Total debt, net 2,413,725 2,768,741 Less: Current portion, net (132,284) (497,449) Total long-term debt, net $ 2,281,441 $ 2,271,292

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Total Share-Based Compensation Expense	Total share-based compensation expense was as follows for the years ended December 31: 2020 2019 2018 (In thousands) Stock option expense $ 13,695 $ 12,810 $ 11,390 Restricted stock expense 17,997 16,169 14,400 PRSU expense 9,873 11,415 1,525 Total pre-tax expense $ 41,565 $ 40,394 $ 27,315
Weighted Average Assumptions Used for Estimating Fair Values of Stock Options Granted	The following weighted average assumptions were used in the Black-Scholes-Merton model to estimate the fair values of stock options granted during the years indicated: 2020 2019 2018 Expected volatility 22.2 % 19.1 % 17.3 % Expected term (years) 5.0 5.0 5.0 Risk-free interest rate 0.52 % 2.25 % 2.81 % Expected dividend yield 1.14 % 0.66 % 0.76 % Black-Scholes-Merton fair value per stock option granted $ 11.01 $ 16.85 $ 14.12
Summary of Stock Option Activity and Related Information	The following is a summary of the Company’s stock option activity and related information for the year ended December 31, 2020: Shares Weighted Weighted Aggregate (In thousands) (Years) (In millions) Outstanding at the beginning of the year 4,303 $ 62.50 Granted 963 63.37 Exercised (1,191) 53.46 Forfeited (121) 71.64 Expired (4) 56.75 Outstanding at the end of the year 3,950 $ 65.16 6.0 $ 220.3 Exercisable at the end of the year 2,044 $ 60.80 4.1 $ 123.0
Summary of Nonvested Stock Option Activity and Related Information	The following is a summary of the Company’s non-vested stock option activity and related information for the year ended December 31, 2020: Shares Weighted (In thousands) Non-vested stock options outstanding at the beginning of the year 2,066 $ 14.17 Granted 963 11.01 Vested (1,002) 12.90 Forfeited (121) 12.45 Non-vested stock options outstanding at the end of the year 1,906 $ 13.34
Summary of Nonvested Restricted Stock Activity and Related Information	The following is a summary of the Company’s non-vested restricted stock activity and related information for the year ended December 31, 2020: Shares Weighted (In thousands) Non-vested restricted stock outstanding at the beginning of the year 561 $ 72.46 Granted 381 80.27 Vested (201) 71.37 Forfeited (40) 75.12 Non-vested restricted stock outstanding at the end of the year 701 $ 76.86 The following is a summary of the Company’s non-vested performance restricted stock activity and related information for the year ended December 31, 2020: Shares Weighted (In thousands) Non-vested performance restricted stock outstanding at the beginning of the year 148 $ 80.57 Granted 119 63.37 Vested — — Forfeited (3) 73.35 Non-vested performance restricted stock outstanding at the end of the year 264 $ 72.90

Retirement Plans and Other Po_2

Retirement Plans and Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Net Projected Benefit Obligation and Fair Value of Plan Assets for Funded and Unfunded Defined Benefit Plans	The following tables set forth the changes in net projected benefit obligation and the fair value of plan assets for the funded and unfunded defined benefit plans for the years ended December 31: U.S. Defined Benefit Pension Plans: 2020 2019 (In thousands) Change in projected benefit obligation: Net projected benefit obligation at the beginning of the year $ 510,514 $ 471,506 Service cost 3,015 3,248 Interest cost 17,235 20,287 Actuarial losses (gains) 32,963 46,269 Gross benefits paid (31,370) (30,796) Net projected benefit obligation at the end of the year $ 532,357 $ 510,514 Change in plan assets: Fair value of plan assets at the beginning of the year $ 621,632 $ 552,187 Actual return on plan assets 71,281 99,573 Employer contributions 755 668 Gross benefits paid (31,370) (30,796) Fair value of plan assets at the end of the year $ 662,298 $ 621,632 Foreign Defined Benefit Pension Plans: 2020 2019 (In thousands) Change in projected benefit obligation: Net projected benefit obligation at the beginning of the year $ 311,783 $ 268,763 Service cost 4,246 3,307 Interest cost 5,376 6,692 Foreign currency translation adjustments 13,955 9,042 Employee contributions 92 110 Actuarial losses (gains) 27,055 35,021 Expenses paid from assets (838) (747) Gross benefits paid (10,615) (8,421) Settlements — (1,984) Plan amendments 530 — Net projected benefit obligation at the end of the year $ 351,584 $ 311,783 Change in plan assets: Fair value of plan assets at the beginning of the year $ 224,347 $ 196,801 Actual return on plan assets 20,966 25,391 Employer contributions 8,772 4,941 Employee contributions 92 110 Foreign currency translation adjustments 8,011 8,256 Expenses paid from assets (838) (747) Settlements — (1,984) Gross benefits paid (10,615) (8,421) Fair value of plan assets at the end of the year $ 250,735 $ 224,347
Accumulated Benefit Obligation ("ABO")	The accumulated benefit obligation consisted of the following at December 31: U.S. Defined Benefit Pension Plans: 2020 2019 (In thousands) Funded plans $ 515,667 $ 493,756 Unfunded plans 4,494 5,213 Total $ 520,161 $ 498,969 Foreign Defined Benefit Pension Plans: 2020 2019 (In thousands) Funded plans $ 295,998 $ 264,675 Unfunded plans 53,090 45,315 Total $ 349,088 $ 309,990
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets	The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with a projected benefit obligation in excess of plan assets and pension plans with an accumulated benefit obligation in excess of plan assets were as follows at December 31: U.S. Defined Benefit Pension Plans: Projected Benefit Accumulated Benefit 2020 2019 2020 2019 (In thousands) Benefit obligation $ 6,842 $ 7,119 $ 6,842 $ 7,119 Fair value of plan assets 1,155 958 1,155 958 Foreign Defined Benefit Pension Plans: Projected Benefit Accumulated Benefit 2020 2019 2020 2019 (In thousands) Benefit obligation $ 349,762 $ 311,783 $ 347,267 $ 309,990 Fair value of plan assets 248,914 224,347 248,914 224,347
Funded Status of Plan and Amounts Recognized in Balance Sheet	The following table provides the amounts recognized in the consolidated balance sheet at December 31: 2020 2019 (In thousands) Funded status asset (liability): Fair value of plan assets $ 913,034 $ 845,979 Projected benefit obligation (883,940) (822,297) Funded status at the end of the year $ 29,094 $ 23,682 Amounts recognized in the consolidated balance sheet consisted of: Non-current asset for pension benefits (other assets) $ 135,628 $ 117,278 Current liabilities for pension benefits (2,174) (1,954) Non-current liability for pension benefits (104,360) (91,642) Net amount recognized at the end of the year $ 29,094 $ 23,682
Amounts Recognized in Accumulated Other Comprehensive Income, Net of Taxes	The following table provides the amounts recognized in accumulated other comprehensive income, net of taxes, at December 31: Net amounts recognized: 2020 2019 (In thousands) Net actuarial loss $ 249,468 $ 242,696 Prior service costs 4,247 4,189 Transition asset 5 6 Total recognized $ 253,720 $ 246,891
Components of Net Periodic Pension Benefit Expense (Income)	The following table provides the components of net periodic pension benefit expense (income) for the years ended December 31 2020 2019 2018 (In thousands) Defined benefit plans: Service cost $ 7,261 $ 6,556 $ 6,879 Interest cost 22,611 26,979 25,678 Expected return on plan assets (54,629) (52,402) (59,325) Settlement — 739 — Amortization of: Net actuarial loss 15,479 15,685 12,092 Prior service costs 486 484 (49) Transition asset 1 1 1 Total net periodic benefit income (8,791) (1,958) (14,724) Other plans: Defined contribution plans 30,829 32,508 28,829 Foreign plans and other 7,902 9,406 6,185 Total other plans 38,731 41,914 35,014 Total net pension expense $ 29,940 $ 39,956 $ 20,290
U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Assumptions Used to Determine Benefit Obligations	Weighted average assumptions used to determine benefit obligations at December 31: 2020 2019 U.S. Defined Benefit Pension Plans: Discount rate 2.69 % 3.45 % Rate of compensation increase (where applicable) 3.75 % 3.75 % Foreign Defined Benefit Pension Plans: Discount rate 1.27 % 1.83 % Rate of compensation increase (where applicable) 2.50 % 2.50 %
Fair Value of Plan Assets	The following is a summary of the fair value of plan assets for U.S. plans at December 31: 2020 2019 Asset Class Total Level 1 Level 2 Total Level 1 Level 2 (In thousands) Corporate debt instruments $ 3,442 $ — $ 3,442 $ 3,152 $ — $ 3,152 Corporate debt instruments – Preferred 12,196 — 12,196 10,781 — 10,781 Corporate stocks – Common 62,897 62,897 — 127,221 127,221 — Municipal bonds 876 876 574 — 574 Registered investment companies 236,530 236,530 — 288,076 288,076 — U.S. Government securities 526 — 526 240 — 240 Total investments 316,467 299,427 17,040 430,044 415,297 14,747 Investments measured at net asset value 345,831 — — 191,588 — — Total investments $ 662,298 $ 299,427 $ 17,040 $ 621,632 $ 415,297 $ 14,747
Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	The following is a summary of the fair value of plan assets for foreign defined benefit pension plans at December 31: 2020 2019 Asset Class Total Level 3 Total Level 3 (In thousands) Life insurance $ 20,908 $ 20,908 $ 19,298 $ 19,298 Total investments 20,908 20,908 19,298 19,298 Investments measured at net asset value 229,827 — 205,049 — Total investments $ 250,735 $ 20,908 $ 224,347 $ 19,298
Summary of Changes in Fair Value of U.S. Plans' Investments Using Significant Unobservable Inputs	The following is a summary of the changes in the fair value of the foreign plans’ level 3 investments (fair value determined using significant unobservable inputs): Life Insurance (In thousands) Balance, December 31, 2018 $ 18,685 Actual return on assets: Unrealized losses relating to instruments still held at the end of the year $ 613 Realized gains (losses) relating to assets sold during the year $ — Purchases, sales, issuances and settlements, net $ — Balance, December 31, 2019 $ 19,298 Actual return on assets: Unrealized gains (losses) relating to instruments still held at the end of the year $ 1,610 Realized gains (losses) relating to assets sold during the year $ — Purchases, sales, issuances and settlements, net $ — Balance, December 31, 2020 $ 20,908
Net Periodic Pension Benefit Expense
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Assumptions Used to Determine Benefit Obligations	The following weighted average assumptions were used to determine the above net periodic pension benefit income for the years ended December 31: 2020 2019 2018 U.S. Defined Benefit Pension Plans: Discount rate 3.45 % 4.40 % 4.40 % Expected return on plan assets 7.00 % 7.50 % 7.50 % Rate of compensation increase (where applicable) 3.75 % 3.75 % 3.75 % Foreign Defined Benefit Pension Plans: Discount rate 1.83 % 2.59 % 2.59 % Expected return on plan assets 5.97 % 6.52 % 6.52 % Rate of compensation increase (where applicable) 2.50 % 2.50 % 2.50 %

Leases and Other Commitments (T

Leases and Other Commitments (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: 2020 2019 (In thousands) Operating lease cost $ 44,498 $ 45,438 Variable lease cost 4,526 7,813 Total lease cost $ 49,024 $ 53,251
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: December 31, 2020 2019 (In thousands) Right of use assets, net $ 167,233 $ 179,679 Lease liabilities included in Accrued liabilities and other 44,948 43,025 Lease liabilities included in Other long-term liabilities 128,173 142,620 Total lease liabilities $ 173,121 $ 185,645
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information and other information related to leases was as follows for the year ended December 31: 2020 2019 (In thousands) Right-of-use assets obtained in exchange for new operating liabilities $ 35,923 $ 40,793 Weighted-average remaining lease terms – operating leases (years) 5.44 5.93 Weighted-average discount rate – operating leases 3.40 % 3.72 %
Maturities of Lease Liabilities	Maturities of lease liabilities as of December 31, 2020 were as follows: Lease Liability Maturity Analysis Operating Leases (In thousands) 2021 $ 50,334 2022 41,651 2023 31,377 2024 21,354 2025 15,469 Thereafter 29,967 Total lease payments 190,152 Less: imputed interest 17,031 $ 173,121

Reportable Segments and Geogr_2

Reportable Segments and Geographic Areas Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Reportable Segment Financial Information	Reportable Segment Financial Information 2020 2019 2018 (In thousands) Operating income and income before income taxes: Segment operating income (1) : Electronic Instruments $ 770,620 $ 865,307 $ 782,144 Electromechanical 324,962 387,931 363,765 Total segment operating income 1,095,582 1,253,238 1,145,909 Corporate administrative expenses (67,698) (75,858) (70,369) Consolidated operating income 1,027,884 1,177,380 1,075,540 Interest and other income (expenses), net 54,425 (107,632) (87,795) Consolidated income before income taxes $ 1,082,309 $ 1,069,748 $ 987,745 Assets: Electronic Instruments $ 6,554,414 $ 6,651,920 Electromechanical 2,646,985 2,818,155 Total segment assets 9,201,399 9,470,075 Corporate 1,156,084 374,484 Consolidated assets $ 10,357,483 $ 9,844,559 Additions to property, plant and equipment (2) : Electronic Instruments $ 48,638 $ 74,994 $ 110,858 Electromechanical 26,381 42,924 42,461 Total segment additions to property, plant and equipment 75,019 117,918 153,319 Corporate 1,007 4,770 3,496 Consolidated additions to property, plant and equipment $ 76,026 $ 122,688 $ 156,815 Depreciation and amortization: Electronic Instruments $ 174,494 $ 153,111 $ 121,709 Electromechanical 78,297 78,664 75,801 Total segment depreciation and amortization 252,791 231,775 197,510 Corporate 2,484 2,267 1,980 Consolidated depreciation and amortization $ 255,275 $ 234,042 $ 199,490 ___________________ (1) Segment operating income represents net sales less all direct costs and expenses (including certain administrative and other expenses) applicable to each segment but does not include interest expense. (2) Includes $1.8 million in 2020, $20.3 million in 2019 and $74.6 million in 2018 from acquired businesses.
Information about Company's Operations in Different Geographic Areas	Information about the Company’s operations in different geographic areas for the years ended December 31, 2020 and 2019 is shown below. 2020 2019 (In thousands) Long-lived assets from continuing operations (excluding intangible assets): United States $ 344,535 $ 370,144 International (1) : United Kingdom 55,519 57,675 European Union countries 82,256 78,500 Asia 14,066 12,869 Other foreign countries 30,154 29,720 Total international 181,995 178,764 Total consolidated $ 526,530 $ 548,908 _________________ (1) Represents long-lived assets of foreign-based operations only.

Restructuring and Related Act_2

Restructuring and Related Activities (Tables)	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Accrued liabilities and other in the Company’s consolidated balance sheet included amounts related to the first quarter of 2020 realignment costs as follows (in millions): Balance at December 31, 2019 $ — Pre-tax charges 43.9 Utilization (21.2) Foreign currency translation and other 0.4 Balance at December 31, 2020 $ 23.1

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)unit_Operation	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Significant Accounting Policies [Line Items]
Maturity period of liquid investments	three months or less
Bad debt expense	$ 3,600	$ 2,800	$ 1,700
Allowance for estimated credit losses	$ 12,700	11,200
Percentage of FIFO method of inventory in total inventory	88.00%
Percentage of LIFO method of inventory in total inventory	12.00%
Excess of the FIFO value over the LIFO value	$ 22,800	23,400
Depreciation expense	$ 101,300	101,400	85,400
Number of operating groups | unit_Operation	2
Research and development costs	$ 158,900	161,900	141,000
Shipping and handling costs	2,996,515	3,370,897	3,186,310
Shipping and Handling
Significant Accounting Policies [Line Items]
Shipping and handling costs	$ 56,800	$ 66,700	$ 62,700
Patents and Technology
Significant Accounting Policies [Line Items]
Weighted average life	14 years
Patents and Technology | Minimum
Significant Accounting Policies [Line Items]
Useful life, maximum	9 years
Patents and Technology | Maximum
Significant Accounting Policies [Line Items]
Useful life, maximum	20 years
Customer Relationship
Significant Accounting Policies [Line Items]
Weighted average life	19 years
Customer Relationship | Minimum
Significant Accounting Policies [Line Items]
Useful life, maximum	10 years
Customer Relationship | Maximum
Significant Accounting Policies [Line Items]
Useful life, maximum	20 years
Machinery and Equipment | Minimum
Significant Accounting Policies [Line Items]
Range of lives for depreciable assets, maximum	3 years
Machinery and Equipment | Maximum
Significant Accounting Policies [Line Items]
Range of lives for depreciable assets, maximum	10 years
Leasehold Improvements | Minimum
Significant Accounting Policies [Line Items]
Range of lives for depreciable assets, maximum	5 years
Leasehold Improvements | Maximum
Significant Accounting Policies [Line Items]
Range of lives for depreciable assets, maximum	27 years
Building | Minimum
Significant Accounting Policies [Line Items]
Range of lives for depreciable assets, maximum	25 years
Building | Maximum
Significant Accounting Policies [Line Items]
Range of lives for depreciable assets, maximum	50 years

Significant Accounting Polici_5

Significant Accounting Policies - Number of Weighted Average Shares (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted average shares:
Basic shares (in shares)	229,435	227,759	230,823
Equity-based compensation plans (in shares)	1,715	1,636	1,889
Diluted shares (in shares)	231,150	229,395	232,712

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ (7,094,656)	$ (6,387,612)
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	400
Accounts Receivable, after allowance for credit Loss	$ 400

Revenues - Outstanding Contract

Revenues - Outstanding Contract Asset and (Liability) Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract assets	$ 68,971	$ 73,039	$ 58,266
Change in contract assets – (decrease) increase	(4,068)	14,773
Contract liabilities	215,093	167,306	$ 146,162
Change in contract liabilities – increase	(47,787)	(21,144)
Net change	$ (51,855)	$ (6,371)

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue recognized from contract liabilities	$ 133	$ 130
Product warranty description	The Company provides limited warranties in connection with the sale of its products. The warranty periods for products sold vary among the Company’s operations, but the majority do not exceed one year.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, remaining performance obligation		$ 233.3
Expected timing of satisfaction, period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, remaining performance obligation	$ 300.8
Expected timing of satisfaction, period	1 year
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Expected timing of satisfaction, period	2 years
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Expected timing of satisfaction, period	3 years
Other Noncurrent Liabilities
Customer advanced payments	$ 20.5	$ 10.6

Revenues - Information about Op

Revenues - Information about Operations in Different Geographic Areas (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 4,540,029	$ 5,158,557	$ 4,845,872
United States
Segment Reporting Information [Line Items]
Net sales	2,330,126	2,683,686	2,397,332
United Kingdom
Segment Reporting Information [Line Items]
Net sales	171,627	196,908	196,590
European Union countries
Segment Reporting Information [Line Items]
Net sales	696,087	826,355	788,579
Asia
Segment Reporting Information [Line Items]
Net sales	959,519	959,569	985,182
Other foreign countries
Segment Reporting Information [Line Items]
Net sales	382,670	492,039	478,189
International
Segment Reporting Information [Line Items]
Net sales	2,209,903	2,474,871	2,448,540
Non-US
Segment Reporting Information [Line Items]
Net sales	1,196,400	1,306,200	1,269,400
EIG
Segment Reporting Information [Line Items]
Net sales	2,989,928	3,322,881	3,028,959
EIG | United States
Segment Reporting Information [Line Items]
Net sales	1,513,967	1,685,369	1,446,974
EIG | United Kingdom
Segment Reporting Information [Line Items]
Net sales	54,158	64,423	61,513
EIG | European Union countries
Segment Reporting Information [Line Items]
Net sales	371,884	434,072	389,032
EIG | Asia
Segment Reporting Information [Line Items]
Net sales	769,532	773,034	780,135
EIG | Other foreign countries
Segment Reporting Information [Line Items]
Net sales	280,387	365,983	351,305
EIG | International
Segment Reporting Information [Line Items]
Net sales	1,475,961	1,637,512	1,581,985
EMG
Segment Reporting Information [Line Items]
Net sales	1,550,101	1,835,676	1,816,913
EMG | United States
Segment Reporting Information [Line Items]
Net sales	816,159	998,317	950,358
EMG | United Kingdom
Segment Reporting Information [Line Items]
Net sales	117,469	132,485	135,077
EMG | European Union countries
Segment Reporting Information [Line Items]
Net sales	324,203	392,283	399,547
EMG | Asia
Segment Reporting Information [Line Items]
Net sales	189,987	186,535	205,047
EMG | Other foreign countries
Segment Reporting Information [Line Items]
Net sales	102,283	126,056	126,884
EMG | International
Segment Reporting Information [Line Items]
Net sales	$ 733,942	$ 837,359	$ 866,555

Revenues - Major Products and S

Revenues - Major Products and Services in Reportable Segments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 4,540,029	$ 5,158,557	$ 4,845,872
Process and analytical instrumentation
Disaggregation of Revenue [Line Items]
Net sales	2,199,167	2,393,587	2,120,448
Aerospace and power
Disaggregation of Revenue [Line Items]
Net sales	1,257,104	1,420,465	1,365,028
Automation and engineered solutions
Disaggregation of Revenue [Line Items]
Net sales	1,083,758	1,344,505	1,360,396
EIG
Disaggregation of Revenue [Line Items]
Net sales	2,989,928	3,322,881	3,028,959
EIG | Process and analytical instrumentation
Disaggregation of Revenue [Line Items]
Net sales	2,199,167	2,393,587	2,120,448
EIG | Aerospace and power
Disaggregation of Revenue [Line Items]
Net sales	790,761	929,294	908,511
EIG | Automation and engineered solutions
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
EMG
Disaggregation of Revenue [Line Items]
Net sales	1,550,101	1,835,676	1,816,913
EMG | Process and analytical instrumentation
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
EMG | Aerospace and power
Disaggregation of Revenue [Line Items]
Net sales	466,343	491,171	456,517
EMG | Automation and engineered solutions
Disaggregation of Revenue [Line Items]
Net sales	$ 1,083,758	$ 1,344,505	$ 1,360,396

Revenues - Timing of Revenue Re

Revenues - Timing of Revenue Recognition (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 4,540,029	$ 5,158,557	$ 4,845,872
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	3,817,828	4,350,744	4,223,842
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	722,201	807,813	622,030
EIG
Disaggregation of Revenue [Line Items]
Net sales	2,989,928	3,322,881	3,028,959
EIG | Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	2,427,254	2,680,296	2,533,718
EIG | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	562,674	642,585	495,241
EMG
Disaggregation of Revenue [Line Items]
Net sales	1,550,101	1,835,676	1,816,913
EMG | Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	1,390,574	1,670,448	1,690,124
EMG | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	$ 159,527	$ 165,228	$ 126,789

Revenues - Changes in Accrued P

Revenues - Changes in Accrued Product Warranty Obligation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at the beginning of the year	$ 27,611	$ 23,482	$ 22,872
Accruals for warranties issued during the year	12,000	21,145	13,897
Settlements made during the year	(14,602)	(19,637)	(14,509)
Warranty accruals related to acquired businesses and other during the year	2,830	2,621	1,222
Balance at the end of the year	$ 27,839	$ 27,611	$ 23,482

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual fund investments	$ 8,969	$ 8,390

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Foreign Exchange Forward $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019CAD ($)	Dec. 31, 2018CAD ($)
Derivative [Line Items]
Derivative, notional amount			$ 14,000,000	$ 30,000,000
Fair value unrealized gain	$ 0.1	$ 1

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Disclosures of Financial Instrument Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Recorded Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net (including current portion)	$ (2,347,587)	$ (2,382,041)
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net (including current portion)	$ (2,550,956)	$ (2,531,549)

Hedging Activities - Additional

Hedging Activities - Additional Information (Detail) - Foreign Exchange Contract - Designated as Hedging Instrument - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Percentage of effectiveness on net investment hedges	100.00%
Currency remeasurement gains (losses)	$ 60.5	$ 2.4
British-Pound-Denominated Loans
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	307.3	404.7
Euro Loan
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	$ 699.7	$ 645.6

Acquisitions and Divestiture -

Acquisitions and Divestiture - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Purchases of businesses, net of cash acquired			$ 116,509	$ 1,061,945	$ 1,129,305
Goodwill			4,224,906	4,047,539	3,612,000
Proceeds from sale of business			245,311	0	0
Gain on sale of business		$ 141,000	141,020	0	0
Income tax expense relating to sale of business		$ 31,400
2020 Consolidated Acquisition
Business Acquisition [Line Items]
Purchases of businesses, net of cash acquired	$ 116,500		116,500
Total other intangible assets acquired			59,500
Finite-lived intangible assets acquired			50,500
Future amortization expense, year one			2,700
Future amortization expense, year two			2,700
Future amortization expense, year three			2,700
Future amortization expense, year four			2,700
Future amortization expense, year five			2,700
Goodwill			57,300
2020 Consolidated Acquisition | Trade Names
Business Acquisition [Line Items]
Indefinite-lived intangible trade names acquired			9,000
2020 Consolidated Acquisition | Customer Relationship
Business Acquisition [Line Items]
Finite-lived intangible assets acquired			$ 38,000
2020 Consolidated Acquisition | Customer Relationship | Maximum
Business Acquisition [Line Items]
Amortization period for finite-lived intangible asset			20 years
2020 Consolidated Acquisition | Purchased technology
Business Acquisition [Line Items]
Finite-lived intangible assets acquired			$ 12,500
Amortization period for finite-lived intangible asset			5 years
2020 Consolidated Acquisition | Purchased technology | Minimum
Business Acquisition [Line Items]
Amortization period for finite-lived intangible asset			15 years
2019 Consolidated Acquisition
Business Acquisition [Line Items]
Purchases of businesses, net of cash acquired				$ 1,061,900
Total other intangible assets acquired			$ 418,000
Consideration paid			938,500
Goodwill			472,500
Business acquisition, goodwill, expected tax deductible amount			463,000
2019 Consolidated Acquisition | Trade Names
Business Acquisition [Line Items]
Indefinite-lived intangible trade names acquired			57,700
2019 Consolidated Acquisition | Customer Relationship
Business Acquisition [Line Items]
Indefinite-lived intangible trade names acquired			308,800
2019 Consolidated Acquisition | Purchased technology
Business Acquisition [Line Items]
Indefinite-lived intangible trade names acquired			51,500
2018 Consolidated Acquisition
Business Acquisition [Line Items]
Purchases of businesses, net of cash acquired					$ 1,129,300
Kymera International | Reading Alloys
Business Acquisition [Line Items]
Proceeds from sale of business			$ 245,300

Acquisitions and Divestiture _2

Acquisitions and Divestiture - Allocation of Aggregate Purchase Price of Acquired Net Assets (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 4,224,906	$ 4,047,539	$ 3,612,000
Total cash paid		116,509	$ 1,061,945	$ 1,129,305
2020 Consolidated Acquisition
Business Acquisition [Line Items]
Property, plant and equipment		1,800
Goodwill		57,300
Other intangible assets		59,500
Deferred income taxes		(12,400)
Net working capital and other		10,300
Total cash paid	$ 116,500	116,500
2020 Consolidated Acquisition | Pacific Design Technologies Inc
Business Acquisition [Line Items]
Accounts receivable included in purchase price		$ 6,400

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in Carrying Amounts of Goodwill by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 4,047,539	$ 3,612,000
Goodwill acquired	57,300	441,200
Purchase price allocation adjustments and other	74,600	(14,500)
Foreign currency translation adjustments	45,500	8,800
Goodwill, ending balance	4,224,906	4,047,539
EIG
Goodwill [Roll Forward]
Goodwill, beginning balance	2,892,200	2,452,000
Goodwill acquired	57,300	398,900
Purchase price allocation adjustments and other	74,600	35,500
Foreign currency translation adjustments	26,200	5,800
Goodwill, ending balance	3,050,300	2,892,200
EMG
Goodwill [Roll Forward]
Goodwill, beginning balance	1,155,300	1,160,000
Goodwill acquired	0	42,300
Purchase price allocation adjustments and other	0	(50,000)
Foreign currency translation adjustments	19,300	3,000
Goodwill, ending balance	$ 1,174,600	$ 1,155,300

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets (subject to amortization)	$ 2,863,847	$ 2,847,520
Accumulated amortization	(993,111)	(826,519)
Net intangible assets subject to amortization	1,870,736	2,021,001
Total	2,623,719	2,762,872
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (not subject to amortization)	752,983	741,871
Patents
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets (subject to amortization)	49,396	47,872
Accumulated amortization	(37,858)	(36,697)
Purchased technology
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets (subject to amortization)	487,517	517,464
Accumulated amortization	(209,308)	(164,231)
Customer lists
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets (subject to amortization)	2,326,934	2,282,184
Accumulated amortization	$ (745,945)	$ (625,591)

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 154	$ 132.6	$ 114.1
Future amortization expense, 2020	154
Future amortization expense, 2021	154
Future amortization expense, 2022	154
Future amortization expense, 2023	154
Future amortization expense, 2024	$ 154

Other Consolidated Balance Sh_3

Other Consolidated Balance Sheet Information - Other Consolidated Balance Sheet Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
INVENTORIES, NET
Finished goods and parts	$ 81,619	$ 99,773
Work in process	102,945	118,240
Raw materials and purchased parts	374,607	406,554
Total inventories	559,171	624,567
PROPERTY, PLANT AND EQUIPMENT, NET
Land	33,382	33,516
Buildings	302,158	295,891
Machinery and equipment	1,119,419	1,074,643
Property, plant and equipment, gross	1,454,959	1,404,050
Less: Accumulated depreciation	(928,429)	(855,142)
Property, plant and equipment, Net	526,530	548,908
ACCRUED LIABILITIES AND OTHER
Employee compensation and benefits	124,347	137,951
Product warranty obligation	27,839	27,611	$ 23,482	$ 22,872
Realignment	32,904	23,825
Short term lease liability	44,948	43,025
Liabilities held for sale	0	23,405
Other	119,694	108,263
Total accrued liabilities	$ 349,732	$ 364,080

Income Taxes - Components of In

Income Taxes - Components of Income before Income Taxes and Details of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income before income taxes:
Domestic	$ 810,844	$ 766,436	$ 555,077
Foreign	271,465	303,312	432,668
Total	1,082,309	1,069,748	987,745
Current:
Federal	126,427	88,526	204,712
Foreign	61,672	81,452	51,686
State	19,932	19,093	27,096
Total current	208,031	189,071	283,494
Deferred:
Federal	(1,254)	18,005	(62,095)
Foreign	(4,072)	(29)	(3,872)
State	7,165	1,404	(7,715)
Total deferred	1,839	19,380	(73,682)
Total provision	$ 209,870	$ 208,451	$ 209,812

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Asset and Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Noncurrent deferred tax asset liability
Net operating loss carryforwards	$ (26,800)
Unremitted earnings	411,000	$ 714,000
Deferred Tax Liabilities, Gross	515,410	516,775
Less: Valuation allowance	5,965	7,146
Deferred tax liabilities, net	521,375	523,921
Portion included in non-current assets	12,103	12,219
Gross non-current deferred tax liability	(533,478)	(536,140)
Cumulative Effect, Period of Adoption, Adjustment
Noncurrent deferred tax asset liability
Deferred tax asset net	32,400	35,100
Non Current
Noncurrent deferred tax asset liability
Differences in basis of property and accelerated depreciation	46,023	45,747
Reserves not currently deductible	(61,872)	(44,239)
Pensions	39,256	39,820
Differences in basis of intangible assets and accelerated amortization	565,661	537,534
Net operating loss carryforwards	(26,767)	(41,782)
Share-based compensation	(13,780)	(12,060)
Foreign Tax Credit Carryforwards	(261)	(333)
Unremitted earnings	10,657	12,977
Other	$ (43,507)	$ (20,889)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate to U.S. Federal Statutory Rate (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit	2.30%	1.80%	1.20%
Foreign operations, net	(1.40%)	(0.90%)	(0.10%)
U.S. Benefits for Manufacturing, Export and credits	(1.90%)	(2.00%)	(1.80%)
Uncertain Tax Items	(1.30%)	(1.00%)	1.70%
Stock compensation	(1.00%)	(1.50%)	(0.50%)
Net deferred tax revaluation	0.00%	0.00%	(0.10%)
US Tax on Foreign Earnings	2.10%	2.30%	(0.10%)
Other	(0.40%)	(0.20%)	(0.10%)
Consolidated effective tax rate	19.40%	19.50%	21.20%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
Income Tax Benefit	$ (1,600,000)		$ (11,800,000)
Repatriation of foreign earnings			10,400,000
Income tax benefit from remeasurement of net deferred tax liabilities			1,400,000
Cash tax obligation	35,900,000
Cash tax obligation, current	0
Repatriated amount	482,000,000
Undistributed Earnings	411,000,000	$ 714,000,000
Net operating loss carryforwards	26,800,000
Operating loss carryforwards	14,500,000
Tax benefits related to tax credit carryforwards	10,900,000
Valuation allowance	1,200,000
Acquired Loss And Carry Forwards	1,200,000
Gross unrecognized tax benefits	100,700,000	109,100,000	119,300,000	$ 60,300,000
The total amount of unrecognized tax benefits that would impact tax rate, if recognized	60,600,000	65,900,000
Interest and penalties accrued related to uncertain tax positions	11,600,000	14,200,000
Expense (Benefit) of interest and penalties	$ 2,600,000	200,000	$ 8,900,000
Portion of tax liability incurred in domestic country	73.00%
Period between open tax years subject to tax audit	three and six years
Additions of tax, interest and penalties related to uncertain tax positions	$ 24,300,000	25,400,000
Tax and interest related to statute expirations and settlement of prior uncertain positions reversed	35,300,000	35,400,000
Amount of tax, interest and penalties classified as a noncurrent liability	110,700,000
Increase of income tax expense	4,800,000
Increase (Decrease) In Deferred Liabilities	(8,400,000)
Federal
Income Tax Contingency [Line Items]
Tax credit carryforwards	3,400,000
Tax credit carryforwards valuation allowance	1,200,000
Foreign
Income Tax Contingency [Line Items]
Deferred Income Tax Assets Net	10,700,000	$ 13,000,000
Operating loss carryforwards valuation allowance	2,000,000
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Operating loss carryforwards	10,700,000
Tax credit carryforwards	$ 7,500,000

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Liability for Uncertain Tax Positions (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the year	$ 109.1	$ 119.3	$ 60.3
Additions for tax positions related to the current year	15.6	17.5	21.8
Additions for tax positions of prior years	6.2	2.8	53.5
Reductions for tax positions of prior years	(0.3)	(1.3)	(3.9)
Reductions related to settlements with taxing authorities	(0.5)	(0.9)	0
Reductions due to statute expirations	(29.4)	(28.3)	(12.4)
Balance at the end of the year	$ 100.7	$ 109.1	$ 119.3

Debt - Long-term Debt (Detail)

Debt - Long-term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Oct. 31, 2016	Aug. 31, 2015	Jun. 30, 2015	Sep. 30, 2014	Dec. 31, 2011
Debt Instrument [Line Items]
Less: Debt issuance costs	$ (6,007)		$ (7,350)
Total debt, net	2,413,725		2,768,741
Less: Current portion, net	(132,284)		(497,449)
Total long-term debt, net	2,281,441		$ 2,271,292
Interest rate on senior notes			6.30%	1.53%
U.S. dollar 3.73% senior notes due September 2024
Debt Instrument [Line Items]
Total debt, gross	300,000		$ 300,000
Interest rate on senior notes							3.73%
U.S. dollar 3.91% senior notes due June 2025
Debt Instrument [Line Items]
Total debt, gross	50,000		50,000
Interest rate on senior notes						3.91%
U.S. dollar 3.96% senior notes due August 2025
Debt Instrument [Line Items]
Total debt, gross	100,000		100,000
Interest rate on senior notes					3.96%
U.S. dollar 4.18% senior notes due December 2025
Debt Instrument [Line Items]
Total debt, gross	$ 275,000		275,000
Interest rate on senior notes	4.18%
U.S. dollar 3.83% senior notes due September 2026
Debt Instrument [Line Items]
Total debt, gross	$ 100,000		100,000
Interest rate on senior notes							3.83%
U.S. dollar 4.32% senior notes due December 2027
Debt Instrument [Line Items]
Total debt, gross	$ 250,000		250,000
Interest rate on senior notes	4.32%
U.S. dollar 4.37% senior notes due December 2028
Debt Instrument [Line Items]
Total debt, gross	$ 50,000		50,000
Interest rate on senior notes	4.37%
U.S. dollar 3.98% senior notes due September 2029
Debt Instrument [Line Items]
Total debt, gross	$ 100,000		100,000
Interest rate on senior notes							3.98%
U.S. dollar 4.45% senior notes due August 2035
Debt Instrument [Line Items]
Total debt, gross	50,000		50,000
Interest rate on senior notes					4.45%
British pound 4.68% senior note due September 2020
Debt Instrument [Line Items]
Total debt, gross	0		106,140
Interest rate on senior notes		4.68%
British pound 2.59% senior note due November 2028
Debt Instrument [Line Items]
Total debt, gross	$ 204,880		199,011
Interest rate on senior notes	2.59%
British pound 2.70% senior note due November 2031
Debt Instrument [Line Items]
Total debt, gross	$ 102,433		99,508
Interest rate on senior notes	2.70%
Euro 1.34% senior notes due October 2026
Debt Instrument [Line Items]
Total debt, gross	$ 366,806		336,797
Interest rate on senior notes	1.34%
Euro 1.71% senior notes due December 2027
Debt Instrument [Line Items]
Total debt, gross	$ 91,706		84,202
Interest rate on senior notes	1.71%
Euro 1.53% senior notes due October 2028
Debt Instrument [Line Items]
Total debt, gross	$ 244,572		224,553
Interest rate on senior notes	1.53%
Swiss franc 2.44% senior note due December 2021
Debt Instrument [Line Items]
Total debt, gross	$ 62,190		56,830
Interest rate on senior notes								2.44%
Revolving credit facility borrowings
Debt Instrument [Line Items]
Total debt, gross	72,145		384,816
Other, principally foreign
Debt Instrument [Line Items]
Total debt, gross	$ 0		$ 9,234

Debt - Additional Information (

Debt - Additional Information (Detail)

1 Months Ended

12 Months Ended

Jan. 21, 2019USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2018EUR (€)

Dec. 31, 2017USD ($)

Sep. 30, 2020USD ($)

Sep. 30, 2020GBP (£)

Dec. 31, 2019USD ($)

Dec. 31, 2018EUR (€)

Nov. 30, 2016GBP (£)

Oct. 31, 2016EUR (€)

Aug. 31, 2015USD ($)

Jun. 30, 2015USD ($)

Sep. 30, 2014USD ($)

Dec. 31, 2011CHF (SFr)

Sep. 30, 2010GBP (£)

Dec. 31, 2007USD ($)

Debt Instrument [Line Items]

Maturities of long-term debt outstanding in 2022

$ 0

Maturities of long-term debt outstanding in 2023

0

Maturities of long-term debt outstanding in 2024

300,000,000

Maturities of long-term debt outstanding in 2025

425,000,000

$ 300,000,000

Maturities of long-term debt outstanding in 2026

466,800,000

Maturities of long-term debt outstanding in 2027 and thereafter

1,089,600,000

Debt Instrument, Face Amount | €

€ 200,000,000

Interest rate on senior notes

6.30%

1.53%

Total borrowing capacity under revolving credit facility

$ 850,000,000

Revolving credit facility expiration period

5 years

Weighted average interest rate on total debt borrowings outstanding

3.00%

3.50%

Revolving Credit Facility Borrowings

Debt Instrument [Line Items]

Total borrowing capacity under revolving credit facility

$ 1,500,000,000

Additional borrowing capacity under revolving credit facility

500,000,000

Available borrowing capacity under revolving credit facility

1,897,700,000

Borrowings outstanding

$ 72,100,000

$ 384,800,000

Percentage of weighted average interest rate on revolving credit facility

1.84%

1.13%

Revolving Credit Facility Borrowings | Letter of Credit

Debt Instrument [Line Items]

Borrowings outstanding

$ 30,200,000

$ 34,900,000

Accordion Feature

Debt Instrument [Line Items]

Available borrowing capacity under revolving credit facility

500,000,000

Foreign Subsidiaries

Debt Instrument [Line Items]

Available borrowing capacity under revolving credit facility

53,000,000

52,200,000

Borrowings outstanding

0

$ 9,200,000

Swiss franc 2.44% senior note due December 2021

Debt Instrument [Line Items]

Debt Instrument, Face Amount

62,200,000

SFr 55,000,000

Interest rate on senior notes

2.44%

Senior Notes

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 575,000,000

€ 75,000,000

Proceeds from funding

$ 100,000,000

$ 475,000,000

€ 75,000,000

$ 85,100,000

Weighted average interest rate

3.93%

3.93%

Senior Notes | 1.34% Due October 2026

Debt Instrument [Line Items]

Debt Instrument, Face Amount

366,800,000

€ 300,000,000

Interest rate on senior notes

1.34%

Senior Notes | 1.53% Due October 2028

Debt Instrument [Line Items]

Debt Instrument, Face Amount

244,600,000

Senior Notes | 2.59% Due November 2028

Debt Instrument [Line Items]

Debt Instrument, Face Amount

204,900,000

£ 150,000,000

Interest rate on senior notes

2.59%

Senior Notes | 2.70% Due November 2031

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 102,400,000

£ 75,000,000

Interest rate on senior notes

2.70%

6.30% Senior Notes Due December 2019

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 100,000,000

Interest rate on senior notes

6.30%

British pound 4.68% senior note due September 2020

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 106,400,000

£ 80,000,000

£ 80,000,000

Interest rate on senior notes

4.68%

4.68%

U.S. dollar 3.73% senior notes due September 2024

Debt Instrument [Line Items]

Interest rate on senior notes

3.73%

U.S. dollar 3.83% senior notes due September 2026

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 100,000,000

Interest rate on senior notes

3.83%

U.S. dollar 3.98% senior notes due September 2029

Debt Instrument [Line Items]

Interest rate on senior notes

3.98%

U.S. dollar 3.91% senior notes due June 2025

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 50,000,000

Interest rate on senior notes

3.91%

U.S. dollar 3.96% senior notes due August 2025

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 100,000,000

Interest rate on senior notes

3.96%

U.S. dollar 4.45% senior notes due August 2035

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 50,000,000

Interest rate on senior notes

4.45%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Jan. 01, 2018	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of stock options exercised			$ 63.7	$ 88.2	$ 23.9
Total fair value of stock options vested			$ 12.9	$ 11.8	10.1
Share-based compensation arrangement by share-based payment award, options, outstanding (in shares)			3,950	4,303
Stock Options Granted Prior Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of stock options			7 years
Beginning in 2018 Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of stock options			10 years
Restricted Stock Granted Prior Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cliff vesting period			4 years
Non Employee Directors Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cliff vesting period			2 years
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected future pre-tax compensation expense, nonvested stock options			$ 4
Nonvested stock options outstanding			300
Weighted average period to recognize expected future pre-tax compensation expense (in years)			1 year
Weighted average fair value, per share			$ 63.37
Nonvested stock options, granted (in shares)			119
Performance Restricted Stock Units | Officers And Key Management Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cliff vesting period		3 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			Restricted stock granted to employees prior to 2018 generally vests four years after the grant date (cliff vesting) and is subject to accelerated vesting due to certain events, including doubling of the grant price of the Company’s common stock as of the close of business during any five consecutive trading days.
Expected future pre-tax compensation expense, nonvested restricted shares			$ 33
Nonvested stock options outstanding			700
Weighted average period to recognize expected future pre-tax compensation expense (in years)			2 years
Total fair value of vested restricted stock			$ 14.4	$ 25.2	$ 11.6
Weighted average fair value, per share			$ 80.27	$ 85.81
Nonvested stock options, granted (in shares)			381
Restricted Stock | Stock Options Granted Prior Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	33.33%
Restricted Stock | Beginning in 2018 Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	33.33%
Restricted Stock | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	33.33%
Non Vested Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected future pre-tax compensation expense, nonvested stock options			$ 14
Nonvested stock options outstanding			1,900
Weighted average period to recognize expected future pre-tax compensation expense (in years)			2 years
Non Vested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			Restricted stock granted to non-employee directors generally vests two years after the grant date (cliff vesting) and is subject to accelerated vesting due to certain events, including doubling of the grant price of the Company’s common stock as of the close of business during any five consecutive trading days.
Non Vested Restricted Stock | Stock Options Granted Prior Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	33.33%		25.00%
Non Vested Restricted Stock | Beginning in 2018 Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	33.33%		25.00%
Non Vested Restricted Stock | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	33.33%		25.00%
Non Vested Restricted Stock | Share-based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate			25.00%
Minimum | Performance Restricted Stock Units | Officers And Key Management Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate		0.00%
Maximum | Performance Restricted Stock Units | Officers And Key Management Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate		200.00%

Share-Based Compensation - Tota

Share-Based Compensation - Total Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Stock option expense	$ 13,695	$ 12,810	$ 11,390
Restricted stock expense	17,997	16,169	14,400
PRSU expense	9,873	11,415	1,525
Total pre-tax expense	$ 41,565	$ 40,394	$ 27,315

Share-Based Compensation - Weig

Share-Based Compensation - Weighted Average Assumptions Used for Estimating Fair Values of Stock Options Granted (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Expected volatility	22.20%	19.10%	17.30%
Expected term (years)	5 years	5 years	5 years
Risk-free interest rate	0.52%	2.25%	2.81%
Expected dividend yield	1.14%	0.66%	0.76%
Black-Scholes-Merton fair value per stock option granted (in USD per share)	$ 11.01	$ 16.85	$ 14.12

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity and Related Information (Detail) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Shares
Outstanding at the beginning of the year (in shares) | shares	4,303
Granted (in shares) | shares	963
Exercised (in shares) | shares	(1,191)
Forfeited (in shares) | shares	(121)
Expired (in shares) | shares	(4)
Outstanding at the end of the year (in shares) | shares	3,950
Exercisable at the end of the year (in shares) | shares	2,044
Weighted Average Exercise Price
Weighted average exercise price, Outstanding at the beginning of the year (in USD per share) | $ / shares	$ 62.50
Weighted average exercise price, Granted (in USD per share) | $ / shares	63.37
Weighted average exercise price, Exercised (in USD per share) | $ / shares	53.46
Weighted average exercise price, Forfeited (in USD per share) | $ / shares	71.64
Weighted average exercise price, Expired (in USD per share) | $ / shares	56.75
Weighted average exercise price, Outstanding at the end of the year (in USD per share) | $ / shares	65.16
Weighted average exercise price, Exercisable at the end of the year (in USD per share) | $ / shares	$ 60.80
Weighted Average Remaining Contractual Life
Weighted average remaining contractual life, Outstanding at the end of the year (in years)	6 years
Weighted average remaining contractual life, Exercisable at the end of the year (in years)	4 years 1 month 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value, Outstanding at the end of the year | $	$ 220.3
Aggregate intrinsic value, Exercisable at the end of the year | $	$ 123

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Nonvested Stock Option Activity and Related Information (Detail) - Stock Option shares in Thousands	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares
Non-vested stock options outstanding at the beginning of the year (in shares) | shares	2,066
Nonvested stock options, granted (in shares) | shares	963
Nonvested stock options, Vested (in shares) | shares	(1,002)
Nonvested stock options, Forfeited (in shares) | shares	(121)
Non-vested stock options outstanding at the end of the year (in shares) | shares	1,906
Weighted Average Grant Date Fair Value
Non-vested stock options outstanding at the beginning of the year, weighted average grant date fair value (in USD per share) | $ / shares	$ 14.17
Weighted average grant date fair value, Granted (in USD per share) | $ / shares	11.01
Weighted average grant date fair value, Vested (in USD per share) | $ / shares	12.90
Weighted average grant date fair value, Forfeited (in USD per share) | $ / shares	12.45
Non-vested stock options outstanding at the the end of the year, weighted average grant date fair value (in USD per share) | $ / shares	$ 13.34

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Nonvested Restricted Stock Activity and Related Information (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restricted Shares
Shares
Non-vested restricted stock outstanding at the beginning of the year (in shares)	561
Nonvested restricted stock, Granted (in shares)	381
Nonvested restricted stock, Vested (in shares)	(201)
Nonvested restricted stock, Forfeited (in shares)	(40)
Non-vested restricted stock outstanding at the end of the year (in shares)	701	561
Weighted Average Grant Date Fair Value
Non-vested restricted stock outstanding at the beginning of the year, weighted average grant date fair value (in USD per share)	$ 72.46
Weighted average grant date fair value, Granted (in USD per share)	80.27	$ 85.81
Weighted average grant date fair value, Vested (in USD per share)	71.37
Weighted average grant date fair value, Forfeited (in USD per share)	75.12
Non-vested restricted stock outstanding at the end of the year, weighted average grant date fair value (in USD per share)	$ 76.86	$ 72.46
Performance Restricted Stock Units
Shares
Non-vested restricted stock outstanding at the beginning of the year (in shares)	148
Nonvested restricted stock, Granted (in shares)	119
Nonvested restricted stock, Vested (in shares)	0
Nonvested restricted stock, Forfeited (in shares)	(3)
Non-vested restricted stock outstanding at the end of the year (in shares)	264	148
Weighted Average Grant Date Fair Value
Non-vested restricted stock outstanding at the beginning of the year, weighted average grant date fair value (in USD per share)	$ 80.57
Weighted average grant date fair value, Granted (in USD per share)	63.37
Weighted average grant date fair value, Vested (in USD per share)	0
Weighted average grant date fair value, Forfeited (in USD per share)	73.35
Non-vested restricted stock outstanding at the end of the year, weighted average grant date fair value (in USD per share)	$ 72.90	$ 80.57

Retirement Plans and Other Po_3

Retirement Plans and Other Postretirement Benefits - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Percentage of minimum employee contributions	20.00%
Percentage of maximum employee contributions	100.00%
Percentage of employee contributions for eligible compensation, Minimum	1.00%
Percentage of employee contributions for eligible compensation, Maximum	8.00%
Defined benefit plan contributions by employer employee match	$ 1,200
Market share of treasury stock held (in shares)	384,788	384,788
Market value of treasury stock held	$ 46,500,000	$ 38,400,000
Percentage of equity securities in company common stock included in plan assets	7.00%	6.20%
Estimated future benefit payments, 2021	$ 43,200,000
Estimated future benefit payments, 2022	43,100,000
Estimated future benefit payments, 2023	44,200,000
Estimated future benefit payments, 2024	44,600,000
Estimated future benefit payments, 2025	44,300,000
Estimated future benefit payments, 2026-2030	220,900,000
Amount deferred under the compensation plan, including income earned	25,100,000	$ 19,000,000
Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan estimated future employer contributions in next fiscal year	6,000,000
Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan estimated future employer contributions in next fiscal year	$ 10,000,000
U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets	7.00%	7.50%	7.50%
Assumed rate of return next year	6.75%
U.S. Defined Benefit Pension Plans | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocations for the U.S. and foreign benefits plans	50.00%
U.S. Defined Benefit Pension Plans | Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocations for the U.S. and foreign benefits plans	20.00%
U.S. Defined Benefit Pension Plans | Other Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocations for the U.S. and foreign benefits plans	30.00%
Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets	5.97%	6.52%	6.52%
Assumed rate of return next year	5.47%
Foreign Defined Benefit Pension Plans | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocations for the U.S. and foreign benefits plans	22.00%
Foreign Defined Benefit Pension Plans | Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocations for the U.S. and foreign benefits plans	21.00%
Foreign Defined Benefit Pension Plans | Other Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocations for the U.S. and foreign benefits plans	6.00%
Foreign Defined Benefit Pension Plans | Multi Asset Funds
Defined Benefit Plan Disclosure [Line Items]
Target allocations for the U.S. and foreign benefits plans	51.00%

Retirement Plans and Other Po_4

Retirement Plans and Other Postretirement Benefits - Net Projected Benefit Obligation and Fair Value of Plan Assets for Funded and Unfunded Defined Benefit Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in projected benefit obligation:
Net projected benefit obligation at the beginning of the year	$ 822,297
Service cost	7,261	$ 6,556	$ 6,879
Interest cost	22,611	26,979	25,678
Net projected benefit obligation at the end of the year	883,940	822,297
Change in plan assets:
Fair value of plan assets at the beginning of the year	845,979
Fair value of plan assets at the end of the year	913,034	845,979
U.S. Defined Benefit Pension Plans | Pension Plan
Change in projected benefit obligation:
Net projected benefit obligation at the beginning of the year	510,514	471,506
Service cost	3,015	3,248
Interest cost	17,235	20,287
Actuarial losses (gains)	32,963	46,269
Gross benefits paid	(31,370)	(30,796)
Net projected benefit obligation at the end of the year	532,357	510,514	471,506
Change in plan assets:
Fair value of plan assets at the beginning of the year	621,632	552,187
Actual return on plan assets	71,281	99,573
Employer contributions	755	668
Gross benefits paid	(31,370)	(30,796)
Fair value of plan assets at the end of the year	662,298	621,632	552,187
Foreign Defined Benefit Pension Plans
Change in plan assets:
Fair value of plan assets at the beginning of the year	224,347
Fair value of plan assets at the end of the year	250,735	224,347
Foreign Defined Benefit Pension Plans | Pension Plan
Change in projected benefit obligation:
Net projected benefit obligation at the beginning of the year	311,783	268,763
Service cost	4,246	3,307
Interest cost	5,376	6,692
Foreign currency translation adjustments	13,955	9,042
Employee contributions	92	110
Actuarial losses (gains)	27,055	35,021
Expenses paid from assets	(838)	(747)
Gross benefits paid	(10,615)	(8,421)
Settlements	0	(1,984)
Plan amendments	530	0
Net projected benefit obligation at the end of the year	351,584	311,783	268,763
Change in plan assets:
Fair value of plan assets at the beginning of the year	224,347	196,801
Actual return on plan assets	20,966	25,391
Employer contributions	8,772	4,941
Employee contributions	92	110
Foreign currency translation adjustments	8,011	8,256
Expenses paid from assets	(838)	(747)
Settlements	0	(1,984)
Gross benefits paid	(10,615)	(8,421)
Fair value of plan assets at the end of the year	$ 250,735	$ 224,347	$ 196,801

Retirement Plans and Other Po_5

Retirement Plans and Other Postretirement Benefits - Accumulated Benefit Obligation ("ABO") (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 520,161	$ 498,969
U.S. Defined Benefit Pension Plans | Funded plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	515,667	493,756
U.S. Defined Benefit Pension Plans | Unfunded plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	4,494	5,213
Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	349,088	309,990
Foreign Defined Benefit Pension Plans | Funded plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	295,998	264,675
Foreign Defined Benefit Pension Plans | Unfunded plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 53,090	$ 45,315

Retirement Plans and Other Po_6

Retirement Plans and Other Postretirement Benefits - Weighted Average Assumptions Used to Determine Benefit Obligations (Detail) - Pension Plan	Dec. 31, 2020	Dec. 31, 2019
U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.69%	3.45%
Rate of compensation increase (where applicable)	3.75%	3.75%
Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.27%	1.83%
Rate of compensation increase (where applicable)	2.50%	2.50%

Retirement Plans and Other Po_7

Retirement Plans and Other Postretirement Benefits - Fair Value of Plan Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 913,034	$ 845,979
U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	662,298	621,632
U.S. Defined Benefit Pension Plans | Municipal bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	876	574
U.S. Defined Benefit Pension Plans | Corporate debt instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,442	3,152
U.S. Defined Benefit Pension Plans | Corporate debt instruments – Preferred
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	12,196	10,781
U.S. Defined Benefit Pension Plans | Corporate stocks – Common
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	62,897	127,221
U.S. Defined Benefit Pension Plans | U.S. Government securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	526	240
U.S. Defined Benefit Pension Plans | Total investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	316,467	430,044
U.S. Defined Benefit Pension Plans | Investments measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	345,831	191,588
U.S. Defined Benefit Pension Plans | Registered investment companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	236,530	288,076
Level 1 | U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	299,427	415,297
Level 1 | U.S. Defined Benefit Pension Plans | Corporate stocks – Common
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	62,897	127,221
Level 1 | U.S. Defined Benefit Pension Plans | U.S. Government securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Level 1 | U.S. Defined Benefit Pension Plans | Total investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	299,427	415,297
Level 1 | U.S. Defined Benefit Pension Plans | Registered investment companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	236,530	288,076
Level 2 | U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17,040	14,747
Level 2 | U.S. Defined Benefit Pension Plans | Municipal bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	876	574
Level 2 | U.S. Defined Benefit Pension Plans | Corporate debt instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,442	3,152
Level 2 | U.S. Defined Benefit Pension Plans | Corporate debt instruments – Preferred
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	12,196	10,781
Level 2 | U.S. Defined Benefit Pension Plans | U.S. Government securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	526	240
Level 2 | U.S. Defined Benefit Pension Plans | Total investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17,040	$ 14,747
Level 2 | U.S. Defined Benefit Pension Plans | Registered investment companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0

Retirement Plans and Other Po_8

Retirement Plans and Other Postretirement Benefits - Fair Value of Plan Assets for Foreign Defined Benefit Pension Plans (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 913,034	$ 845,979
Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	250,735	224,347
Foreign Defined Benefit Pension Plans | Life insurance
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,908	19,298
Foreign Defined Benefit Pension Plans | Total investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,908	19,298
Foreign Defined Benefit Pension Plans | Investments measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	229,827	205,049
Level 3 | Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,908	19,298
Level 3 | Foreign Defined Benefit Pension Plans | Life insurance
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,908	19,298	$ 18,685
Level 3 | Foreign Defined Benefit Pension Plans | Total investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 20,908	$ 19,298

Retirement Plans and Other Po_9

Retirement Plans and Other Postretirement Benefits - Summary of Changes of Fair Value of Foreign Plans' Investments Using Significant Unobservable Inputs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at the beginning of the year	$ 845,979
Actual return on assets:
Fair value of plan assets at the end of the year	913,034	$ 845,979
Foreign Defined Benefit Pension Plans
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at the beginning of the year	224,347
Actual return on assets:
Fair value of plan assets at the end of the year	250,735	224,347
Foreign Defined Benefit Pension Plans | Life insurance
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at the beginning of the year	19,298
Actual return on assets:
Fair value of plan assets at the end of the year	20,908	19,298
Level 3 | Foreign Defined Benefit Pension Plans
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at the beginning of the year	19,298
Actual return on assets:
Fair value of plan assets at the end of the year	20,908	19,298
Level 3 | Foreign Defined Benefit Pension Plans | Life insurance
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at the beginning of the year	19,298	18,685
Actual return on assets:
Unrealized losses relating to instruments still held at the end of the year	1,610	613
Realized gains (losses) relating to assets sold during the year	0	0
Purchases, sales, issuances and settlements, net	0	0
Fair value of plan assets at the end of the year	$ 20,908	$ 19,298

Retirement Plans and Other P_10

Retirement Plans and Other Postretirement Benefits - Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets (Detail) - Pension Plan - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation Exceeds Fair Value of Assets, Projected Benefit Obligation	$ 6,842	$ 7,119
Projected Benefit Obligation Exceeds Fair Value of Assets, Fair Value of Plan Assets	1,155	958
Accumulated Benefit Obligation Exceeds Fair Value of Assets, Projected Benefit Obligation	6,842	7,119
Accumulated Benefit Obligation Exceeds Fair Value of Assets, Fair Value of Plan Assets	1,155	958
Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation Exceeds Fair Value of Assets, Projected Benefit Obligation	349,762	311,783
Projected Benefit Obligation Exceeds Fair Value of Assets, Fair Value of Plan Assets	248,914	224,347
Accumulated Benefit Obligation Exceeds Fair Value of Assets, Projected Benefit Obligation	347,267	309,990
Accumulated Benefit Obligation Exceeds Fair Value of Assets, Fair Value of Plan Assets	$ 248,914	$ 224,347

Retirement Plans and Other P_11

Retirement Plans and Other Postretirement Benefits - Funded Status of Plan and Amounts Recognized in Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Funded status asset (liability):
Fair value of plan assets	$ 913,034	$ 845,979
Projected benefit obligation	(883,940)	(822,297)
Funded status at the end of the year	29,094	23,682
Amounts recognized in the consolidated balance sheet consisted of:
Non-current asset for pension benefits (other assets)	135,628	117,278
Current liabilities for pension benefits	(2,174)	(1,954)
Non-current liability for pension benefits	(104,360)	(91,642)
Net amount recognized at the end of the year	$ 29,094	$ 23,682

Retirement Plans and Other P_12

Retirement Plans and Other Postretirement Benefits - Amounts Recognized in Accumulated Other Comprehensive Income, Net of Taxes (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Total recognized	$ 253,720	$ 246,891
Net actuarial loss
Defined Benefit Plan Disclosure [Line Items]
Total recognized	249,468	242,696
Prior service costs
Defined Benefit Plan Disclosure [Line Items]
Total recognized	4,247	4,189
Transition asset
Defined Benefit Plan Disclosure [Line Items]
Total recognized	$ 5	$ 6

Retirement Plans and Other P_13

Retirement Plans and Other Postretirement Benefits - Components of Net Periodic Pension Benefit Expense (Income) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined benefit plans:
Service cost	$ 7,261	$ 6,556	$ 6,879
Interest cost	22,611	26,979	25,678
Expected return on plan assets	(54,629)	(52,402)	(59,325)
Settlement	0	739	0
Amortization of:
Net actuarial loss	15,479	15,685	12,092
Prior service costs	486	484	(49)
Transition asset	1	1	1
Total net periodic benefit income	(8,791)	(1,958)	(14,724)
Other plans:
Defined contribution plans	30,829	32,508	28,829
Foreign plans and other	7,902	9,406	6,185
Total other plans	38,731	41,914	35,014
Total net pension expense	$ 29,940	$ 39,956	$ 20,290

Retirement Plans and Other P_14

Retirement Plans and Other Postretirement Benefits - Weighted Average Assumptions Used to Determine Net Periodic Pension Benefit Expense (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.45%	4.40%	4.40%
Expected return on plan assets	7.00%	7.50%	7.50%
Rate of compensation increase (where applicable)	3.75%	3.75%	3.75%
Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.83%	2.59%	2.59%
Expected return on plan assets	5.97%	6.52%	6.52%
Rate of compensation increase (where applicable)	2.50%	2.50%	2.50%

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)unit_LawsuitSite	Dec. 31, 2019USD ($)
Site Contingency [Line Items]
Number of non-owned sites Company is named Potentially Responsible Party | Site	13
Number of non-owned sites the Company is identified as a de minimis party | Site	12
Number of non Owned sites company is identified as de minimis party, settlement amount known | Site	8
Number of non Owned sites company is identified as de minimis party, settlement amount unknown | Site	4
Total environmental reserves	$ 32.4	$ 28.9
Increase (decrease) in environmental reserves	9.2
Total expenses related to environmental matters	5.6
Foreign currency translation	(0.1)
Amount awarded to other party	$ 6.8
Number of class action lawsuits | unit_Lawsuit	2
HCC Industries
Site Contingency [Line Items]
Reserves related to an owned site acquired	$ 7.4	$ 9

Leases and Other Commitments -

Leases and Other Commitments - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease terms – operating leases (years)		5 years 5 months 8 days	5 years 11 months 4 days
Rental expenses under non-cancelable leases	$ 52.5
Purchase obligations outstanding		$ 494.1	$ 505.2
future payment obligations		94.3
future payment obligations, guarantees		$ 0.7
Land
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease terms – operating leases (years)		63 years
Minimum
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease terms – operating leases (years)		1 month
Maximum
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease terms – operating leases (years)		14 years

Leases and Other Commitments _2

Leases and Other Commitments - Components of Lease Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 44,498	$ 45,438
Variable lease cost	4,526	7,813
Total lease cost	$ 49,024	$ 53,251

Leases and Other Commitments _3

Leases and Other Commitments - Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Right of use assets, net	$ 167,233	$ 179,679
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent
Lease liabilities included in Accrued liabilities and other	$ 44,948	$ 43,025
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Lease liabilities included in Other long-term liabilities	$ 128,173	$ 142,620
Total lease liabilities	$ 173,121	$ 185,645

Leases and Other Commitments _4

Leases and Other Commitments - Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating liabilities	$ 35,923	$ 40,793
Weighted-average remaining lease terms – operating leases (years)	5 years 5 months 8 days	5 years 11 months 4 days
Weighted-average discount rate – operating leases	3.40%	3.72%

Leases and Other Commitments _5

Leases and Other Commitments - Maturities of lease liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 50,334
2022	41,651
2023	31,377
2024	21,354
2025	15,469
Thereafter	29,967
Total lease payments	190,152
Less: imputed interest	17,031
Operating lease liability	$ 173,121	$ 185,645

Reportable Segments and Geogr_3

Reportable Segments and Geographic Areas Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Reportable Segments and Geogr_4

Reportable Segments and Geographic Areas Information - Reportable Segment Financial Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment operating income:
Consolidated operating income	$ 1,027,884	$ 1,177,380	$ 1,075,540
Interest and other income (expenses), net	54,425	(107,632)	(87,795)
Total	1,082,309	1,069,748	987,745
Assets:
Assets	10,357,483	9,844,559
Additions to property, plant and equipment:
Additions to property, plant and equipment	76,026	122,688	156,815
Depreciation and amortization:
Depreciation and amortization	255,275	234,042	199,490
Operating Segments
Segment operating income:
Consolidated operating income	1,095,582	1,253,238	1,145,909
Assets:
Assets	9,201,399	9,470,075
Additions to property, plant and equipment:
Additions to property, plant and equipment	75,019	117,918	153,319
Depreciation and amortization:
Depreciation and amortization	252,791	231,775	197,510
Operating Segments | EIG
Segment operating income:
Consolidated operating income	770,620	865,307	782,144
Assets:
Assets	6,554,414	6,651,920
Additions to property, plant and equipment:
Additions to property, plant and equipment	48,638	74,994	110,858
Depreciation and amortization:
Depreciation and amortization	174,494	153,111	121,709
Operating Segments | EMG
Segment operating income:
Consolidated operating income	324,962	387,931	363,765
Assets:
Assets	2,646,985	2,818,155
Additions to property, plant and equipment:
Additions to property, plant and equipment	26,381	42,924	42,461
Depreciation and amortization:
Depreciation and amortization	78,297	78,664	75,801
Corporate
Segment operating income:
Consolidated operating income	(67,698)	(75,858)	(70,369)
Assets:
Assets	1,156,084	374,484
Additions to property, plant and equipment:
Additions to property, plant and equipment	1,007	4,770	3,496
Depreciation and amortization:
Depreciation and amortization	$ 2,484	$ 2,267	$ 1,980

Reportable Segments and Geogr_5

Reportable Segments and Geographic Areas Information - Reportable Segment Financial Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting [Abstract]
Additions to property, plant and equipment from acquired business	$ 1.8	$ 20.3	$ 74.6

Reportable Segments and Geogr_6

Reportable Segments and Geographic Areas Information - Information about Company's Operations in Different Geographic Areas (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long-lived assets from continuing operations (excluding intangible assets):
Long-lived assets from continuing operations (excluding intangible assets)	$ 526,530	$ 548,908
United States
Long-lived assets from continuing operations (excluding intangible assets):
Long-lived assets from continuing operations (excluding intangible assets)	344,535	370,144
United Kingdom
Long-lived assets from continuing operations (excluding intangible assets):
Long-lived assets from continuing operations (excluding intangible assets)	55,519	57,675
European Union countries
Long-lived assets from continuing operations (excluding intangible assets):
Long-lived assets from continuing operations (excluding intangible assets)	82,256	78,500
Asia
Long-lived assets from continuing operations (excluding intangible assets):
Long-lived assets from continuing operations (excluding intangible assets)	14,066	12,869
Other foreign countries
Long-lived assets from continuing operations (excluding intangible assets):
Long-lived assets from continuing operations (excluding intangible assets)	30,154	29,720
Total international
Long-lived assets from continuing operations (excluding intangible assets):
Long-lived assets from continuing operations (excluding intangible assets)	$ 181,995	$ 178,764

Additional Consolidated Incom_2

Additional Consolidated Income Statement and Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest and other investment income	$ 2.7	$ 4.6	$ 2
Income taxes paid	210.4	221.6	195.2
Cash paid for interest	$ 86.2	$ 84.9	$ 83.6

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Feb. 11, 2021	Feb. 12, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Feb. 12, 2019
Class of Stock [Line Items]
Shares repurchased value							$ 500,000,000
Repurchase of common stock (in shares)					55,000	133,000
Repurchase of common stock under share repurchase authorization					$ 4,700,000	$ 11,900,000
Remaining authorization for future share repurchases			$ 484,400,000		$ 484,400,000
Increase in dividend rate, percentage		29.00%
Dividend declared per share (in USD per share)		$ 0.18	$ 0.18	$ 0.14
Treasury stock (in shares)			36,227,061	36,500,908	36,227,061	36,500,908
Treasury stock, cost			$ 1,565,270,000	$ 1,574,464,000	$ 1,565,270,000	$ 1,574,464,000
Number of shares outstanding (in shares)			230,500,000	229,100,000	230,500,000	229,100,000
Subsequent Event
Class of Stock [Line Items]
Increase in dividend rate, percentage	11.00%
Dividend declared per share (in USD per share)	$ 0.20

Restructuring and Related Act_3

Restructuring and Related Activities (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / shares
Restructuring Cost and Reserve [Line Items]
Pre-tax charges	$ 43,900
Reduction In Workspace
Restructuring Cost and Reserve [Line Items]
Pre-tax charges	43,900
Effect on net income (loss)	$ (33,600)
Effect on earnings per share diluted (in dollars per share) | $ / shares	$ (0.15)
Reduction In Workspace | Operating Segments | EIG
Restructuring Cost and Reserve [Line Items]
Pre-tax charges	$ 22,800
Reduction In Workspace | Operating Segments | EMG
Restructuring Cost and Reserve [Line Items]
Pre-tax charges	20,900
Reduction In Workspace | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Pre-tax charges	43,700
Reduction In Workspace | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Pre-tax charges	$ 200

Restructuring and Related Act_4

Restructuring and Related Activities - Schedule of Restructuring Reserve (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 0
Pre-tax charges	43,900
Utilization	(21,200)
Foreign currency translation and other	400
Restructuring reserve, ending balance	$ 23,100