The company completed three acquisitions during the quarter for a total consideration of $174.3 million, net of cash acquired. These acquisitions are intended to complement and expand existing operations within the Clean Energy & Fueling and Imaging & Identification segments.

The company completed the sale of the De-Sta-Co business for total consideration, net of cash transferred, of $674.7 million. This sale resulted in a preliminary pre-tax gain on disposition of $529.9 million.

The Climate & Sustainability Technologies segment experienced a revenue decline of 20.0%, driven by an organic revenue decline of 20.3%. This was primarily due to near-term slowing in heat exchanger demand in Europe and headwinds in new beverage can-making equipment sales.

The Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective as of March 31, 2024.

Restructuring expenses of $18.7 million were incurred, primarily related to product line exit costs and headcount reductions in the Climate & Sustainability Technologies, Clean Energy & Fueling and Pumps & Process Solutions segments. These programs were initiated in 2023 and 2024.

The company repurchased 2,569,839 shares for $500 million under an accelerated share repurchase transaction. As of March 31, 2024, 17,430,161 shares remain authorized for repurchase.

The 10-Q states that there have been no material changes from the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2023.

Engineered Products revenue increased by 9.2%, driven by organic growth of 9.2%. This was primarily driven by continued robust demand in the waste handling business and continued solid demand in the aerospace and defense business.

Imaging & Identification revenue decreased by 2.2%, comprised of an organic decline of 1.6% and an unfavorable impact from foreign currency translation of 0.9%. The organic revenue decline was primarily due to lower marking and coding printer shipments in the United States and Europe.

Selling, general and administrative expenses increased by 7.1%, primarily driven by increased employee compensation and benefits, amortization costs and insurance costs. As a percentage of revenue, selling, general and administrative expenses increased 130 basis points.

The Climate & Sustainability Technologies segment earnings decrease was partially offset by productivity initiatives and cost reduction actions, indicating management's efforts to improve operational efficiency in response to market headwinds.

Research and development costs increased to $40.1 million from $38.0 million, representing 1.9% and 1.8% of revenue, respectively. This indicates a continued investment in innovation.

The company entered into a $500 million accelerated share repurchase agreement with Citibank, funding it with proceeds from commercial paper.

Capital expenditures decreased slightly, indicating a disciplined approach to investment. The company estimates capital expenditures in 2024 to range from $160.0 million to $170.0 million.

The acquisition of Transchem expands the Company's chemical product offerings in the Clean Energy & Fueling segment, specializing in wash performance and water reclaim technology that reduces water usage and lowers car wash operators' cost.

The organic revenue decline was due primarily to near-term, transient slowing in heat exchanger demand in Europe due to HVAC OEMs efforts to reduce component inventories, as well as continued headwinds in new beverage can-making equipment sales.

Overall bookings increased 4.8%, driven by organic growth and acquisition-related growth. This indicates prevailing demand conditions and better customer and channel partner inventory levels.