AMETEK (AME) 10-Q2 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-12981
Entity Registrant Name	AMETEK, Inc.
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1100 Cassatt Road
Entity Address, City or Town	Berwyn
Entity Address, State or Province	PA
Entity Tax Identification Number	14-1682544
Entity Address, Postal Zip Code	19312-1177
City Area Code	610
Local Phone Number	647-2121
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
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	AME
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		231,469,581
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001037868
Current Fiscal Year End Date	--12-31

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 1,736,180	$ 1,597,117
Cost of sales	1,144,681	1,022,525
Selling, general and administrative	174,283	169,051
Total operating expenses	1,318,964	1,191,576
Operating income	417,216	405,541
Interest expense	(35,254)	(20,569)
Other (expense) income, net	(633)	(5,373)
Income before income taxes	381,329	379,599
Provision for income taxes	70,386	73,887
Net income	$ 310,943	$ 305,712
Basic earnings per share (in usd per share)	$ 1.35	$ 1.33
Diluted earnings per share (in usd per share)	$ 1.34	$ 1.32
Weighted average common shares outstanding:
Basic shares (in shares)	231,097	230,126
Diluted shares (in shares)	232,035	231,229
Dividends declared and paid per share (in usd per shares)	$ 0.28	$ 0.25

Condensed Consolidated Statemen

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Total comprehensive income	$ 285,557	$ 223,639

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 373,765	$ 409,804
Receivables, net	983,893	1,012,932
Inventories, net	1,127,328	1,132,471
Other current assets	290,516	269,461
Total current assets	2,775,502	2,824,668
Property, plant and equipment, net	877,420	891,293
Right of use assets, net	219,887	229,723
Goodwill	6,438,675	6,447,629
Other intangibles, net	4,080,603	4,165,317
Investments and other assets	472,894	464,903
Total assets	14,864,981	15,023,533
Current liabilities:
Short-term borrowings and current portion of long-term debt, net	1,055,406	1,417,915
Accounts payable	517,352	516,588
Customer advanced payments	391,873	375,513
Income taxes payable	85,843	69,567
Accrued liabilities and other	452,034	502,990
Total current liabilities	2,502,508	2,882,573
Long-term debt, net	1,877,772	1,895,432
Deferred income taxes	836,571	836,695
Other long-term liabilities	679,915	678,642
Total liabilities	5,896,766	6,293,342
Stockholders’ equity:
Common stock	2,715	2,709
Capital in excess of par value	1,186,132	1,168,694
Retained earnings	10,186,621	9,940,343
Accumulated other comprehensive loss	(510,328)	(484,942)
Treasury stock	(1,896,925)	(1,896,613)
Total stockholders’ equity	8,968,215	8,730,191
Total liabilities and stockholders’ equity	$ 14,864,981	$ 15,023,533

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Capital stock	Capital in excess of par value	Retained earnings	Accumulated foreign currency adjustment attributable to parent	Accumulated defined benefit plans adjustment attributable to parent	Accumulated other comprehensive (loss) income	Treasury stock
Balance at the beginning of the year at Dec. 31, 2022		$ 2,700	$ 1,094,236	$ 8,857,485	$ (368,124)	$ (206,821)		$ (1,902,964)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued		4
Issuance of common stock under employee stock plans			(12,153)					14,266
Share-based compensation expense			10,279
Net income	$ 305,712			305,712
Cash dividends paid				(57,492)
Other				0
Translation adjustments					32,820
Change in long-term intercompany notes					3,771
Net investment hedge instruments gain (loss), net of tax of $(3,987) and $3,805 for the quarter ended March 31, 2024 and 2023, respectively					(11,684)
Amortization of net actuarial loss and other, net of tax of $(365) and $(518) for the quarter ended March 31, 2024 and 2023, respectively						1,592
Purchase of treasury stock								(6,502)
Balance at the end of the year at Mar. 31, 2023	7,757,125	2,704	1,092,362	9,105,705	(343,217)	(205,229)	$ (548,446)	(1,895,200)
Balance at the beginning of the year at Dec. 31, 2023	8,730,191	2,709	1,168,694	9,940,343	(298,835)	(186,107)		(1,896,613)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued		6
Issuance of common stock under employee stock plans			8,497					6,603
Share-based compensation expense			8,941
Net income	310,943			310,943
Cash dividends paid				(64,664)
Other				(1)
Translation adjustments					(34,115)
Change in long-term intercompany notes					(4,673)
Net investment hedge instruments gain (loss), net of tax of $(3,987) and $3,805 for the quarter ended March 31, 2024 and 2023, respectively					12,242
Amortization of net actuarial loss and other, net of tax of $(365) and $(518) for the quarter ended March 31, 2024 and 2023, respectively						1,160
Purchase of treasury stock								(6,915)
Balance at the end of the year at Mar. 31, 2024	$ 8,968,215	$ 2,715	$ 1,186,132	$ 10,186,621	$ (325,381)	$ (184,947)	$ (510,328)	$ (1,896,925)

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Tax related to investment hedge instruments gain (loss)	$ (3,987)	$ 3,805
Tax related to amortization of net actuarial loss (gain)	$ (365)	$ (518)

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities:
Net income	$ 310,943	$ 305,712
Adjustments to reconcile net income to total operating activities:
Depreciation and amortization	98,000	82,379
Deferred income taxes	(2,974)	(17,587)
Share-based compensation expense	8,941	10,279
Gain on sale of facilities	(995)	0
Net change in assets and liabilities, net of acquisitions	816	4,883
Pension contributions	(1,460)	(1,415)
Other, net	(3,044)	2,285
Total operating activities	410,227	386,536
Investing activities:
Additions to property, plant and equipment	(27,652)	(20,006)
Purchases of businesses, net of cash acquired	0	(99,266)
Proceeds from sale of facilities	4,246	0
Other, net	1,994	(2,888)
Total investing activities	(21,412)	(122,160)
Financing activities:
Net change in short-term borrowings	(363,052)	(155,505)
Repurchases of common stock	(6,915)	(6,502)
Cash dividends paid	(64,664)	(57,492)
Proceeds from stock option exercises	23,613	10,419
Other, net	(6,531)	(5,886)
Total financing activities	(417,549)	(214,966)
Effect of exchange rate changes on cash and cash equivalents	(7,305)	5,077
(Decrease) increase in cash and cash equivalents	(36,039)	54,487
Cash and cash equivalents:
Beginning of period	409,804	345,386
End of period	$ 373,765	$ 399,873

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are unaudited. AMETEK, Inc. (the “Company”) believes that all adjustments (which primarily consist of normal recurring accruals) necessary for a fair presentation of the consolidated financial position of the Company at March 31, 2024, the consolidated results of its operations for the three months ended March 31, 2024 and 2023 and its cash flows for the three months ended March 31, 2024 and 2023 have been included. Quarterly results of operations are not necessarily indicative of results for the full year. The accompanying consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the U.S. Securities and Exchange Commission.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires disclosure of significant segment expenses and other segment items on an annual and interim basis under ASC 280. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. 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 2023-07 may have on the Company’s financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"), which improves income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The ASU indicates that all entities will apply its guidance prospectively with an option for retroactive application to each period in the financial statements. The Company has not determined the impact ASU 2023-09 may have on the Company’s financial statement disclosures.

Revenues

Revenues	3 Months Ended
Revenues	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The outstanding contract asset and liability accounts were as follows: 2024 2023 (In thousands) Contract assets—January 1 $ 140,826 $ 119,741 Contract assets – March 31 146,948 127,412 Change in contract assets – increase (decrease) 6,122 7,671 Contract liabilities – January 1 432,830 398,692 Contract liabilities – March 31 439,365 432,695 Change in contract liabilities – (increase) decrease (6,535) (34,003) Net change $ (413) $ (26,332) The net change for the three months ended March 31, 2024 was driven by contract liabilities, specifically growth in advance payments from customers being largely offset by the increase in contract assets. For the three months ended March 31, 2024 and 2023, the Company recognized revenue of $219.0 million and $199.3 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 March 31, 2024 and December 31, 2023, $47.5 million and $57.3 million of Customer advanced payments (contract liabilities), respectively, were recorded in Other long-term liabilities in the consolidated balance sheets. The remaining performance obligations not expected to be completed within one year as of March 31, 2024 and December 31, 2023 were $596.3 million and $607.5 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 three months ended March 31: Three months ended March 31, 2024 EIG EMG Total (In thousands) United States $ 568,897 $ 343,860 $ 912,757 International (1) : United Kingdom 26,707 28,192 54,899 European Union countries 142,242 114,986 257,228 Asia 298,045 50,199 348,244 Other foreign countries 120,888 42,164 163,052 Total international 587,882 235,541 823,423 Consolidated net sales $ 1,156,779 $ 579,401 $ 1,736,180 ________________ (1) Includes U.S. export sales of $473.8 million for the three months ended March 31, 2024. Three months ended March 31, 2023 EIG EMG Total (In thousands) United States $ 561,896 $ 247,119 $ 809,015 International (1) : United Kingdom 28,038 31,062 59,100 European Union countries 135,658 116,807 252,465 Asia 283,892 50,905 334,797 Other foreign countries 107,763 33,977 141,740 Total international 555,351 232,751 788,102 Consolidated net sales $ 1,117,247 $ 479,870 $ 1,597,117 ______________ (1) Includes U.S. export sales of $434.2 million for the three months ended March 31, 2023. Major Products and Services The Company’s major products and services in the reportable segments were as follows: Three months ended March 31, 2024 EIG EMG Total (In thousands) Process and analytical instrumentation $ 791,538 $ — $ 791,538 Aerospace and power 365,241 152,452 517,693 Automation and engineered solutions — 426,949 426,949 Consolidated net sales $ 1,156,779 $ 579,401 $ 1,736,180 Three months ended March 31, 2023 EIG EMG Total (In thousands) Process and analytical instrumentation $ 794,433 $ — $ 794,433 Aerospace and power 322,814 143,050 465,864 Automation and engineered solutions — 336,820 336,820 Consolidated net sales $ 1,117,247 $ 479,870 $ 1,597,117 Timing of Revenue Recognition Three months ended March 31, 2024 EIG EMG Total (In thousands) Products transferred at a point in time $ 945,998 $ 503,585 $ 1,449,583 Products and services transferred over time 210,781 75,816 286,597 Consolidated net sales $ 1,156,779 $ 579,401 $ 1,736,180 Three months ended March 31, 2023 EIG EMG Total (In thousands) Products transferred at a point in time $ 935,308 $ 413,601 $ 1,348,909 Products and services transferred over time 181,939 66,269 248,208 Consolidated net sales $ 1,117,247 $ 479,870 $ 1,597,117 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: Three Months Ended March 31, 2024 2023 (In thousands) Balance at the beginning of the period $ 37,087 $ 26,487 Accruals for warranties issued during the period 4,867 3,411 Settlements made during the period (5,761) (3,224) Warranty accruals related to acquired businesses and other during the period 32 133 Balance at the end of the period $ 36,225 $ 26,807 Accounts Receivable The Company maintains allowances for estimated 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 determined to be uncollectible. At March 31, 2024, the Company had $983.9 million of accounts receivable, net of allowances of $13.3 million. Changes in the allowance were not material for the three months ended March 31, 2024.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
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). The number of weighted average shares used in the calculation of basic earnings per share and diluted earnings per share was as follows: Three Months Ended March 31, 2024 2023 (In thousands) Weighted average shares: Basic shares 231,097 230,126 Equity-based compensation plans 938 1,103 Diluted shares 232,035 231,229 The calculation of diluted earnings per share for the three months ended March 31, 2024 excluded an immaterial number of stock options because the exercise prices of these stock options exceeded the average market price of the Company’s common shares, and the effect of their inclusion would have been antidilutive. There were no antidilutive shares for the three months ended March 31, 2023.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023: March 31, 2024 Total Level 1 Level 2 Level 3 (In thousands) Mutual fund investments $ 12,427 $ 12,427 $ — $ — Foreign currency forward contracts (733) — (733) — December 31, 2023 Total Level 1 Level 2 Level 3 (In thousands) Mutual fund investments $ 11,922 $ 11,922 $ — $ — Foreign currency forward contracts 2,035 — 2,035 — The fair value of mutual fund investments is based on quoted market prices. The mutual fund investments are shown as a component of investments and other assets on the consolidated balance sheet. For the three months ended March 31, 2024 and 2023, gains and losses on the investments noted above were not significant. No transfers between level 1 and level 2 investments occurred during the three months ended March 31, 2024 and 2023. Foreign Currency At March 31, 2024, the Company had a Euro forward contract for a total notional value of 50.0 million Euros. The foreign currency forward contract is valued as a level 2 liability as it is corroborated by foreign currency exchange rates and shown as a component of other current liabilities on the consolidated balance sheet. For the three months ended March 31, 2024, realized and unrealized gains and losses on the foreign currency forward contracts were not significant. Financial Instruments Cash, cash equivalents and mutual fund investments are recorded at fair value at March 31, 2024 and December 31, 2023 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 March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Long-term debt (including current portion) $ (2,179,727) $ (2,072,710) $ (2,197,538) $ (2,087,607) The fair value of net short-term borrowings approximates the carrying value. The Company’s net long-term debt is all privately held with no public market for this debt, therefore, the fair value of net long-term debt was computed based on comparable current market data for similar debt instruments and is considered a level 3 liability.

Hedging Activities

Hedging Activities	3 Months Ended
Hedging Activities	Mar. 31, 2024
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 March 31, 2024, these net investment hedges included British-pound-and Euro-denominated long-term debt. These borrowings were designed to create net investment hedges in certain designated foreign subsidiaries. The Company designated the British-pound- and Euro-denominated loans 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 March 31, 2024, the Company had $284.3 million of British-pound-denominated loans, which were designated as a hedge against the net investment in British pound functional currency foreign subsidiaries. At March 31, 2024, the Company had $558.3 million 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 designated and 100% effective as net investment hedges, $16.2 million of pre-tax currency remeasurement gains have been included in the foreign currency translation component of other comprehensive income for the three months ended March 31, 2024.

Inventories, net

Inventories, net	3 Months Ended
Inventories, net	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net March 31, December 31, (In thousands) Finished goods and parts $ 147,747 $ 136,003 Work in process 167,751 165,914 Raw materials and purchased parts 811,830 830,554 Total inventories, net $ 1,127,328 $ 1,132,471

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The Company has commitments under operating leases for certain facilities, vehicles and equipment used in its operations. Cash used in operations for operating leases was not materially different from operating lease expense for the three months ended March 31, 2024 and 2023. The Company's leases have a weighted average remaining lease term of approximately 7 years. Certain lease agreements contain provisions for future rent increases. The components of lease expense were as follows: Three Months Ended 2024 2023 (In thousands) Operating lease cost $ 17,604 $ 14,677 Variable lease cost 3,191 3,230 Total lease cost $ 20,795 $ 17,907 Supplemental balance sheet information related to leases was as follows: March 31, December 31, (In thousands) Right of use assets, net $ 219,887 $ 229,723 Lease liabilities included in Accrued Liabilities and other 60,058 61,055 Lease liabilities included in Other long-term liabilities 173,811 182,436 Total lease liabilities $ 233,869 $ 243,491 Maturities of lease liabilities as of March 31, 2024 were as follows: Lease Liability Maturity Analysis Operating Leases (In thousands) Remaining 2024 $ 45,287 2025 49,818 2026 40,043 2027 28,987 2028 21,126 Thereafter 85,921 Total lease payments 271,182 Less: imputed interest 37,313 $ 233,869 The Company does not have any significant leases that have not yet commenced.

Acquisitions

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions The initial accounting for the December 2023 Paragon Medical acquisition is being finalized, including the measurement of the acquired tangible and intangible assets and liabilities, as well as, the associated income tax considerations. All amounts could change, potentially materially, as there is significant additional information that the Company must obtain to finalize the valuations of the assets acquired and liabilities assumed, and to finalize the value of the intangible assets. The Company finalized its measurements of tangible and intangible assets and liabilities for its August 2023 acquisition of United Electronic Industries, which had no material impact to the consolidated statement of income and balance sheet. The Company is in the process of finalizing the measurement of the intangible assets and tangible assets and liabilities, including accounting for income taxes, for its October 2023 acquisition of Amplifier Research Corp.

Goodwill

Goodwill	3 Months Ended
Goodwill	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amounts of goodwill by segment were as follows: EIG EMG Total (In millions) Balance at December 31, 2023 $ 4,365.0 $ 2,082.6 $ 6,447.6 Purchase price allocation adjustments and other 11.8 0.6 12.4 Foreign currency translation adjustments (16.0) (5.3) (21.3) Balance at March 31, 2024 $ 4,360.8 $ 2,077.9 $ 6,438.7

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes At March 31, 2024, the Company had gross uncertain tax benefits of $244.1 million, of which $195.1 million, if recognized, would impact the effective tax rate. The following is a reconciliation of the liability for uncertain tax positions (in millions): Balance at December 31, 2023 $ 233.5 Additions for tax positions 10.6 Reductions for tax positions — Balance at March 31, 2024 $ 244.1 The additions above primarily reflect the tax positions for foreign tax planning initiatives. The Company recognizes interest and penalties accrued related to uncertain tax positions in income tax expense. The amounts recognized in income tax expense for interest and penalties during the three months ended March 31, 2024 and 2023 were not significant.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
Share-Based Compensation	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company's share-based compensation plans are described in Note 11, Share-Based Compensation, to the consolidated financial statements in Part II, Item 8, filed on the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Share Based Compensation Expense Total share-based compensation expense was as follows: Three Months Ended 2024 2023 (In thousands) Stock option expense $ 3,509 $ 3,584 Restricted stock expense 4,797 5,040 Performance restricted stock unit expense 635 1,655 Total pre-tax expense $ 8,941 $ 10,279 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 grant date 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 periods indicated: Three Months Ended Year Ended December 31, 2023 Expected volatility 28.2 % 26.0 % Expected term (years) 5.0 5.0 Risk-free interest rate 4.31 % 3.54 % Expected dividend yield 0.62 % 0.72 % Black-Scholes-Merton fair value per stock option granted $ 56.42 $ 38.11 The following is a summary of the Company’s stock option activity and related information: Shares Weighted Weighted Aggregate (In thousands) (Years) (In millions) Outstanding at December 31, 2023 2,741 $ 101.20 Granted 231 181.93 Exercised (321) 79.67 Forfeited (8) 139.23 Outstanding at March 31, 2024 2,643 $ 110.77 6.9 $ 190.7 Exercisable at March 31, 2024 1,962 $ 96.35 6.1 $ 169.8 The aggregate intrinsic value of stock options exercised during the three months ended March 31, 2024 was $30.0 million. The total fair value of stock options vested during the three months ended March 31, 2024 was $14.5 million. As of March 31, 2024, there was approximately $26.5 million of expected future pre-tax compensation expense related to the 0.7 million non-vested stock options outstanding, which is expected to be recognized over a weighted average period of approximately two years. Restricted Stock The following is a summary of the Company’s non-vested restricted stock activity and related information: Shares Weighted (In thousands) Non-vested restricted stock outstanding at December 31, 2023 296 $ 135.39 Granted 144 181.93 Vested (135) 132.65 Forfeited (3) 139.47 Non-vested restricted stock outstanding at March 31, 2024 302 $ 158.83 The total fair value of restricted stock vested during the three months ended March 31, 2024 was $18.0 million. As of March 31, 2024, there was approximately $43.2 million of expected future pre-tax compensation expense related to the 0.3 million non-vested restricted shares outstanding, which is expected to be recognized over a weighted average period of approximately two years. Performance Restricted Stock Units In March 2024, the Company granted performance restricted stock units ("PRSU") to officers and certain key management-level employees. 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 to December 31 of the third year. Half of the PRSUs were valued in a manner similar to restricted stock as the financial targets are based on the Company’s operating results, which represents a performance condition. The grant date fair value of these PRSUs are recognized as compensation expense over the vesting period based on the probable number of awards 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: Shares Weighted (In thousands) Non-vested performance restricted stock outstanding at December 31, 2023 239 $ 131.90 Granted 77 181.93 Performance assumption change 1 24 121.91 Vested (99) 121.91 Forfeited — — Non-vested performance restricted stock outstanding at March 31, 2024 241 $ 151.05 _________________________________________ 1 Reflects the number of PRSUs above target levels based on performance metrics. As of March 31, 2024, there was approximately $17.9 million of expected future pre-tax compensation expense related to the 0.2 million non-vested restricted shares outstanding, which is expected to be recognized over a weighted average period of approximately one year.

Retirement and Pension Plans

Retirement and Pension Plans	3 Months Ended
Retirement and Pension Plans	Mar. 31, 2024
Retirement Benefits [Abstract]
Retirement and Pension Plans	Retirement and Pension Plans The components of net periodic pension benefit expense (income) were as follows: Three Months Ended 2024 2023 (In thousands) Defined benefit plans: Service cost $ 730 $ 740 Interest cost 6,989 7,501 Expected return on plan assets (13,632) (12,996) Amortization of net actuarial loss and other 2,337 2,821 Pension income (3,576) (1,934) Other plans: Defined contribution plans 14,595 13,516 Foreign plans and other 1,689 2,571 Total other plans 16,284 16,087 Total net pension expense $ 12,708 $ 14,153 For defined benefit plans, the net periodic benefit income, other than the service cost component, is included in “Other (expense) income, net” in the consolidated statement of income. For the three months ended March 31, 2024 and 2023, contributions to the Company’s defined benefit pension plans were $1.5 million and $1.4 million, respectively. The Company’s current estimate of 2024 contributions to its worldwide defined benefit pension plans is in line with the range disclosed in Note 12 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Contingencies

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies 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 March 31, 2024, the Company is named a Potentially Responsible Party (“PRP”) at 12 non-AMETEK-owned former waste disposal or treatment sites (the “non-owned” sites). The Company is identified as a “de minimis” party in a majority of these sites based on the low volume of waste attributed to the Company relative to the amounts attributed to other named PRPs. The Company is participating in the investigation and/or related required remediation as part of a PRP Group and reserves have been established 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 March 31, 2024 and December 31, 2023 were $35.6 million and $37.1 million, respectively, for both non-owned and owned sites. For the three months ended March 31, 2024, the Company recorded $3.3 million in reserves. Additionally, the Company spent $4.8 million on environmental matters for the three months ended March 31, 2024. 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. The Company believes it has established reserves for the environmental matters described above, which are sufficient to perform all known responsibilities under existing claims and consent orders. In the opinion of management, based on presently available information and the Company’s historical experience related to such matters, an adequate provision for probable costs has been made and the ultimate cost resulting from these actions is not expected to materially affect the consolidated results of operations, financial position or cash flows of the Company.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 310,943	$ 305,712

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
Recent Accounting Pronouncements (Policies)	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Basis of Presentation	The accompanying consolidated financial statements are unaudited. AMETEK, Inc. (the “Company”) believes that all adjustments (which primarily consist of normal recurring accruals) necessary for a fair presentation of the consolidated financial position of the Company at March 31, 2024, the consolidated results of its operations for the three months ended March 31, 2024 and 2023 and its cash flows for the three months ended March 31, 2024 and 2023 have been included. Quarterly results of operations are not necessarily indicative of results for the full year. The accompanying consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the U.S. Securities and Exchange Commission.
Recently Adopted Accounting Pronouncement	Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires disclosure of significant segment expenses and other segment items on an annual and interim basis under ASC 280. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. 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 2023-07 may have on the Company’s financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"), which improves income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The ASU indicates that all entities will apply its guidance prospectively with an option for retroactive application to each period in the financial statements. The Company has not determined the impact ASU 2023-09 may have on the Company’s financial statement disclosures.
Accounts Receivable	Accounts Receivable The Company maintains allowances for estimated 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 determined to be uncollectible.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
Revenues (Tables)	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Outstanding Contract Asset and (Liability) Accounts	The outstanding contract asset and liability accounts were as follows: 2024 2023 (In thousands) Contract assets—January 1 $ 140,826 $ 119,741 Contract assets – March 31 146,948 127,412 Change in contract assets – increase (decrease) 6,122 7,671 Contract liabilities – January 1 432,830 398,692 Contract liabilities – March 31 439,365 432,695 Change in contract liabilities – (increase) decrease (6,535) (34,003) Net change $ (413) $ (26,332)
Schedule of Revenue From External Customers by Geographic Areas	Information about the Company’s operations in different geographic areas was as follows for the three months ended March 31: Three months ended March 31, 2024 EIG EMG Total (In thousands) United States $ 568,897 $ 343,860 $ 912,757 International (1) : United Kingdom 26,707 28,192 54,899 European Union countries 142,242 114,986 257,228 Asia 298,045 50,199 348,244 Other foreign countries 120,888 42,164 163,052 Total international 587,882 235,541 823,423 Consolidated net sales $ 1,156,779 $ 579,401 $ 1,736,180 ________________ (1) Includes U.S. export sales of $473.8 million for the three months ended March 31, 2024. Three months ended March 31, 2023 EIG EMG Total (In thousands) United States $ 561,896 $ 247,119 $ 809,015 International (1) : United Kingdom 28,038 31,062 59,100 European Union countries 135,658 116,807 252,465 Asia 283,892 50,905 334,797 Other foreign countries 107,763 33,977 141,740 Total international 555,351 232,751 788,102 Consolidated net sales $ 1,117,247 $ 479,870 $ 1,597,117 ______________ (1) Includes U.S. export sales of $434.2 million for the three months ended March 31, 2023.
Schedule of Revenue From External Customers by Products and Services	The Company’s major products and services in the reportable segments were as follows: Three months ended March 31, 2024 EIG EMG Total (In thousands) Process and analytical instrumentation $ 791,538 $ — $ 791,538 Aerospace and power 365,241 152,452 517,693 Automation and engineered solutions — 426,949 426,949 Consolidated net sales $ 1,156,779 $ 579,401 $ 1,736,180 Three months ended March 31, 2023 EIG EMG Total (In thousands) Process and analytical instrumentation $ 794,433 $ — $ 794,433 Aerospace and power 322,814 143,050 465,864 Automation and engineered solutions — 336,820 336,820 Consolidated net sales $ 1,117,247 $ 479,870 $ 1,597,117
Schedule of Disaggregation of Revenue	Three months ended March 31, 2024 EIG EMG Total (In thousands) Products transferred at a point in time $ 945,998 $ 503,585 $ 1,449,583 Products and services transferred over time 210,781 75,816 286,597 Consolidated net sales $ 1,156,779 $ 579,401 $ 1,736,180 Three months ended March 31, 2023 EIG EMG Total (In thousands) Products transferred at a point in time $ 935,308 $ 413,601 $ 1,348,909 Products and services transferred over time 181,939 66,269 248,208 Consolidated net sales $ 1,117,247 $ 479,870 $ 1,597,117
Schedule of Product Warranty Liability	Changes in the accrued product warranty obligation were as follows: Three Months Ended March 31, 2024 2023 (In thousands) Balance at the beginning of the period $ 37,087 $ 26,487 Accruals for warranties issued during the period 4,867 3,411 Settlements made during the period (5,761) (3,224) Warranty accruals related to acquired businesses and other during the period 32 133 Balance at the end of the period $ 36,225 $ 26,807

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of 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: Three Months Ended March 31, 2024 2023 (In thousands) Weighted average shares: Basic shares 231,097 230,126 Equity-based compensation plans 938 1,103 Diluted shares 232,035 231,229

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023: March 31, 2024 Total Level 1 Level 2 Level 3 (In thousands) Mutual fund investments $ 12,427 $ 12,427 $ — $ — Foreign currency forward contracts (733) — (733) — December 31, 2023 Total Level 1 Level 2 Level 3 (In thousands) Mutual fund investments $ 11,922 $ 11,922 $ — $ — Foreign currency forward contracts 2,035 — 2,035 —
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 March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Long-term debt (including current portion) $ (2,179,727) $ (2,072,710) $ (2,197,538) $ (2,087,607)

Inventories, net (Tables)

Inventories, net (Tables)	3 Months Ended
Inventories, net (Tables)	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	March 31, December 31, (In thousands) Finished goods and parts $ 147,747 $ 136,003 Work in process 167,751 165,914 Raw materials and purchased parts 811,830 830,554 Total inventories, net $ 1,127,328 $ 1,132,471

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended 2024 2023 (In thousands) Operating lease cost $ 17,604 $ 14,677 Variable lease cost 3,191 3,230 Total lease cost $ 20,795 $ 17,907
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: March 31, December 31, (In thousands) Right of use assets, net $ 219,887 $ 229,723 Lease liabilities included in Accrued Liabilities and other 60,058 61,055 Lease liabilities included in Other long-term liabilities 173,811 182,436 Total lease liabilities $ 233,869 $ 243,491
Maturities of Lease Liabilities	Maturities of lease liabilities as of March 31, 2024 were as follows: Lease Liability Maturity Analysis Operating Leases (In thousands) Remaining 2024 $ 45,287 2025 49,818 2026 40,043 2027 28,987 2028 21,126 Thereafter 85,921 Total lease payments 271,182 Less: imputed interest 37,313 $ 233,869

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
Goodwill (Tables)	Mar. 31, 2024
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, 2023 $ 4,365.0 $ 2,082.6 $ 6,447.6 Purchase price allocation adjustments and other 11.8 0.6 12.4 Foreign currency translation adjustments (16.0) (5.3) (21.3) Balance at March 31, 2024 $ 4,360.8 $ 2,077.9 $ 6,438.7

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
Income Taxes (Tables)	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Reconciliation of Liability for Uncertain Tax Positions	The following is a reconciliation of the liability for uncertain tax positions (in millions): Balance at December 31, 2023 $ 233.5 Additions for tax positions 10.6 Reductions for tax positions — Balance at March 31, 2024 $ 244.1

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
Share-Based Compensation (Tables)	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Total Share-Based Compensation Expense	Total share-based compensation expense was as follows: Three Months Ended 2024 2023 (In thousands) Stock option expense $ 3,509 $ 3,584 Restricted stock expense 4,797 5,040 Performance restricted stock unit expense 635 1,655 Total pre-tax expense $ 8,941 $ 10,279
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 periods indicated: Three Months Ended Year Ended December 31, 2023 Expected volatility 28.2 % 26.0 % Expected term (years) 5.0 5.0 Risk-free interest rate 4.31 % 3.54 % Expected dividend yield 0.62 % 0.72 % Black-Scholes-Merton fair value per stock option granted $ 56.42 $ 38.11
Summary of Stock Option Activity and Related Information	The following is a summary of the Company’s stock option activity and related information: Shares Weighted Weighted Aggregate (In thousands) (Years) (In millions) Outstanding at December 31, 2023 2,741 $ 101.20 Granted 231 181.93 Exercised (321) 79.67 Forfeited (8) 139.23 Outstanding at March 31, 2024 2,643 $ 110.77 6.9 $ 190.7 Exercisable at March 31, 2024 1,962 $ 96.35 6.1 $ 169.8
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: Shares Weighted (In thousands) Non-vested restricted stock outstanding at December 31, 2023 296 $ 135.39 Granted 144 181.93 Vested (135) 132.65 Forfeited (3) 139.47 Non-vested restricted stock outstanding at March 31, 2024 302 $ 158.83 The following is a summary of the Company’s non-vested performance restricted stock activity and related information: Shares Weighted (In thousands) Non-vested performance restricted stock outstanding at December 31, 2023 239 $ 131.90 Granted 77 181.93 Performance assumption change 1 24 121.91 Vested (99) 121.91 Forfeited — — Non-vested performance restricted stock outstanding at March 31, 2024 241 $ 151.05 _________________________________________ 1 Reflects the number of PRSUs above target levels based on performance metrics.

Retirement and Pension Plans (T

Retirement and Pension Plans (Tables)	3 Months Ended
Retirement and Pension Plans (Tables)	Mar. 31, 2024
Retirement Benefits [Abstract]
Components of Net Periodic Pension Benefit Expense (Income)	The components of net periodic pension benefit expense (income) were as follows: Three Months Ended 2024 2023 (In thousands) Defined benefit plans: Service cost $ 730 $ 740 Interest cost 6,989 7,501 Expected return on plan assets (13,632) (12,996) Amortization of net actuarial loss and other 2,337 2,821 Pension income (3,576) (1,934) Other plans: Defined contribution plans 14,595 13,516 Foreign plans and other 1,689 2,571 Total other plans 16,284 16,087 Total net pension expense $ 12,708 $ 14,153

Revenues - Outstanding Contract

Revenues - Outstanding Contract Asset and (Liability) Accounts (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 146,948	$ 127,412	$ 140,826	$ 119,741
Change in contract assets – increase (decrease)	6,122	7,671
Contract liabilities	439,365	432,695	$ 432,830	$ 398,692
Change in contract liabilities – (increase) decrease	(6,535)	(34,003)
Net change	$ (413)	$ (26,332)

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenue recognized from contract liabilities	$ 219,000	$ 199,300
Customer advanced payments	47,500		$ 57,300
Accounts and notes receivable, net	983,893		1,012,932
Allowance for notes and loans receivable	13,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, remaining performance obligation			$ 607,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, remaining performance obligation	$ 596,300
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Performance obligation, expected timing of satisfaction, period			2 years
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Performance obligation, expected timing of satisfaction, period	2 years
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Performance obligation, expected timing of satisfaction, period			3 years
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Performance obligation, expected timing of satisfaction, period	3 years

Revenues - Information About Op

Revenues - Information About Operations in Different Geographic Areas (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,736,180	$ 1,597,117
United States
Segment Reporting Information [Line Items]
Net sales	912,757	809,015
United Kingdom
Segment Reporting Information [Line Items]
Net sales	54,899	59,100
European Union countries
Segment Reporting Information [Line Items]
Net sales	257,228	252,465
Asia
Segment Reporting Information [Line Items]
Net sales	348,244	334,797
Other foreign countries
Segment Reporting Information [Line Items]
Net sales	163,052	141,740
International
Segment Reporting Information [Line Items]
Net sales	823,423	788,102
Non-US
Segment Reporting Information [Line Items]
Net sales	473,800	434,200
Electronic Instruments Group
Segment Reporting Information [Line Items]
Net sales	1,156,779	1,117,247
Electronic Instruments Group \| United States
Segment Reporting Information [Line Items]
Net sales	568,897	561,896
Electronic Instruments Group \| United Kingdom
Segment Reporting Information [Line Items]
Net sales	26,707	28,038
Electronic Instruments Group \| European Union countries
Segment Reporting Information [Line Items]
Net sales	142,242	135,658
Electronic Instruments Group \| Asia
Segment Reporting Information [Line Items]
Net sales	298,045	283,892
Electronic Instruments Group \| Other foreign countries
Segment Reporting Information [Line Items]
Net sales	120,888	107,763
Electronic Instruments Group \| International
Segment Reporting Information [Line Items]
Net sales	587,882	555,351
Electromechanical Group
Segment Reporting Information [Line Items]
Net sales	579,401	479,870
Electromechanical Group \| United States
Segment Reporting Information [Line Items]
Net sales	343,860	247,119
Electromechanical Group \| United Kingdom
Segment Reporting Information [Line Items]
Net sales	28,192	31,062
Electromechanical Group \| European Union countries
Segment Reporting Information [Line Items]
Net sales	114,986	116,807
Electromechanical Group \| Asia
Segment Reporting Information [Line Items]
Net sales	50,199	50,905
Electromechanical Group \| Other foreign countries
Segment Reporting Information [Line Items]
Net sales	42,164	33,977
Electromechanical Group \| International
Segment Reporting Information [Line Items]
Net sales	$ 235,541	$ 232,751

Revenues - Major Products and S

Revenues - Major Products and Services in Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 1,736,180	$ 1,597,117
Process and analytical instrumentation
Disaggregation of Revenue [Line Items]
Net sales	791,538	794,433
Aerospace and power
Disaggregation of Revenue [Line Items]
Net sales	517,693	465,864
Automation and engineered solutions
Disaggregation of Revenue [Line Items]
Net sales	426,949	336,820
Electronic Instruments Group
Disaggregation of Revenue [Line Items]
Net sales	1,156,779	1,117,247
Electronic Instruments Group \| Process and analytical instrumentation
Disaggregation of Revenue [Line Items]
Net sales	791,538	794,433
Electronic Instruments Group \| Aerospace and power
Disaggregation of Revenue [Line Items]
Net sales	365,241	322,814
Electronic Instruments Group \| Automation and engineered solutions
Disaggregation of Revenue [Line Items]
Net sales	0	0
Electromechanical Group
Disaggregation of Revenue [Line Items]
Net sales	579,401	479,870
Electromechanical Group \| Process and analytical instrumentation
Disaggregation of Revenue [Line Items]
Net sales	0	0
Electromechanical Group \| Aerospace and power
Disaggregation of Revenue [Line Items]
Net sales	152,452	143,050
Electromechanical Group \| Automation and engineered solutions
Disaggregation of Revenue [Line Items]
Net sales	$ 426,949	$ 336,820

Revenues - Timing of Revenue Re

Revenues - Timing of Revenue Recognition (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 1,736,180	$ 1,597,117
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	1,449,583	1,348,909
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	286,597	248,208
Electronic Instruments Group
Disaggregation of Revenue [Line Items]
Net sales	1,156,779	1,117,247
Electronic Instruments Group \| Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	945,998	935,308
Electronic Instruments Group \| Products and services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	210,781	181,939
Electromechanical Group
Disaggregation of Revenue [Line Items]
Net sales	579,401	479,870
Electromechanical Group \| Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	503,585	413,601
Electromechanical Group \| Products and services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	$ 75,816	$ 66,269

Revenues - Changes in Accrued P

Revenues - Changes in Accrued Product Warranty Obligation (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at the beginning of the period	$ 37,087	$ 26,487
Accruals for warranties issued during the period	4,867	3,411
Settlements made during the period	(5,761)	(3,224)
Warranty accruals related to acquired businesses and other during the period	32	133
Balance at the end of the period	$ 36,225	$ 26,807

Earnings Per Share - Number of

Earnings Per Share - Number of Weighted Average Shares (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Weighted average common shares outstanding:
Basic shares	231,097	230,126
Equity-based compensation plans	938	1,103
Diluted shares	232,035	231,229

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets Measured on Recurring Basis (Detail) - Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual fund investments	$ 12,427	$ 11,922
Foreign currency forward contracts	(733)
Foreign currency forward contracts		2,035
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual fund investments	12,427	11,922
Foreign currency forward contracts	0
Foreign currency forward contracts		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual fund investments	0	0
Foreign currency forward contracts	(733)
Foreign currency forward contracts		2,035
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual fund investments	0	0
Foreign currency forward contracts	$ 0
Foreign currency forward contracts		$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) € in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 EUR (€)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis, asset, transfers, net \| $	$ 0	$ 0
Euro Forward Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts \| €			€ 50

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Disclosures of Financial Instrument Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Recorded Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net (including current portion)	$ (2,179,727)	$ (2,197,538)
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net (including current portion)	$ (2,072,710)	$ (2,087,607)

Hedging Activities - Additional

Hedging Activities - Additional Information (Detail) - Foreign Exchange Contract - Designated as Hedging Instrument $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Derivative [Line Items]
Percentage of effectiveness on net investment hedges	100%
Currency remeasurement gain	$ 16.2
British-Pound-Denominated Loans
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	284.3
Euro Loan
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	$ 558.3

Inventories, net - Inventories

Inventories, net - Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods and parts	$ 147,747	$ 136,003
Work in process	167,751	165,914
Raw materials and purchased parts	811,830	830,554
Total inventories, net	$ 1,127,328	$ 1,132,471

Leases - Additional Information

Leases - Additional Information (Details)	Mar. 31, 2024
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	7 years

Leases- Components of Lease Exp

Leases- Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease cost	$ 17,604	$ 14,677
Variable lease cost	3,191	3,230
Total lease cost	$ 20,795	$ 17,907

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Right of use assets, net	$ 219,887	$ 229,723
Operating lease, liability, current, statement of financial position	Accrued liabilities and other	Accrued liabilities and other
Lease liabilities included in Accrued Liabilities and other	$ 60,058	$ 61,055
Operating lease, liability, noncurrent, statement of financial position	Other long-term liabilities	Other long-term liabilities
Lease liabilities included in Other long-term liabilities	$ 173,811	$ 182,436
Total lease liabilities	$ 233,869	$ 243,491

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remaining 2023	$ 45,287
2025	49,818
2026	40,043
2027	28,987
2028	21,126
Thereafter	85,921
Total lease payments	271,182
Less: imputed interest	37,313
Total lease liabilities	$ 233,869	$ 243,491

Goodwill - Changes in Carrying

Goodwill - Changes in Carrying Amounts of Goodwill by Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 6,447,629
Purchase price allocation adjustments and other	12,400
Foreign currency translation adjustments	(21,300)
Goodwill, ending balance	6,438,675
Electronic Instruments Group
Goodwill [Roll Forward]
Goodwill, beginning balance	4,365,000
Purchase price allocation adjustments and other	11,800
Foreign currency translation adjustments	(16,000)
Goodwill, ending balance	4,360,800
Electromechanical Group
Goodwill [Roll Forward]
Goodwill, beginning balance	2,082,600
Purchase price allocation adjustments and other	600
Foreign currency translation adjustments	(5,300)
Goodwill, ending balance	$ 2,077,900

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Gross unrecognized tax benefits	$ 244.1		$ 233.5
The total amount of unrecognized tax benefits that would impact tax rate, if recognized	$ 195.1
Effective tax rate	18.50%	19.50%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Liability for Uncertain Tax Positions (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the year	$ 233.5
Additions for tax positions	10.6
Reductions for tax positions	0
Balance at the end of the year	$ 244.1

Share-Based Compensation - Tota

Share-Based Compensation - Total Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock option expense	$ 3,509	$ 3,584
Restricted stock expense	4,797	5,040
Performance restricted stock unit expense	635	1,655
Total pre-tax expense	$ 8,941	$ 10,279

Share-Based Compensation - Weig

Share-Based Compensation - Weighted Average Assumptions Used for Estimating Fair Values of Stock Options Granted (Detail) - $ / shares	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Expected volatility	28.20%	26%
Expected term (years)	5 years	5 years
Risk-free interest rate	4.31%	3.54%
Expected dividend yield	0.62%	0.72%
Black-Scholes-Merton fair value per stock option granted (in usd per share)	$ 56.42	$ 38.11

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity and Related Information (Detail) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, outstanding (in shares) \| shares	2,741
Granted (in shares) \| shares	231
Exercised (in shares) \| shares	(321)
Forfeited (in shares) \| shares	(8)
Ending balance, outstanding (in shares) \| shares	2,643
Ending balance, exercisable (in shares) \| shares	1,962
Weighted Average Exercise Price
Beginning balance, outstanding, weighted average exercise price (in usd per share) \| $ / shares	$ 101.20
Granted, weighted average exercise price (in usd per share) \| $ / shares	181.93
Exercised, weighted average exercise price (in usd per share) \| $ / shares	79.67
Forfeited, weighted average exercise price (in usd per share) \| $ / shares	139.23
Ending balance, outstanding, weighted average exercise price (in shares) \| $ / shares	110.77
Ending balance, exercisable, weighted average exercise price (in usd per share) \| $ / shares	$ 96.35
Weighted Average Remaining Contractual Life
Ending balance, outstanding, weighted average remaining contractual life	6 years 10 months 24 days
Ending balance, exercisable, weighted average remaining contractual life	6 years 1 month 6 days
Aggregate Intrinsic Value
Ending balance, outstanding, aggregate intrinsic value \| $	$ 190.7
Ending balance, exercisable, aggregate intrinsic value \| $	$ 169.8

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of stock options exercised		$ 30
Total fair value of stock options vested		14.5
Expected future pre-tax compensation expense, nonvested stock options		$ 26.5
Weighted average period to recognize expected future pre-tax compensation expense		2 years
Nonvested restricted stock outstanding (in shares)		300
Share-based payment arrangement, nonvested award, cost not yet recognized, amount		$ 17.9
Share-based payment award, options, outstanding (in shares)		2,643	2,741
Non vested Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested stock options outstanding (in shares)		700
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period to recognize expected future pre-tax compensation expense		2 years
Total fair value of vested restricted stock		$ 18
Expected future pre-tax compensation expense, nonvested restricted shares		$ 43.2
Nonvested restricted stock outstanding (in shares)		302	296
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period to recognize expected future pre-tax compensation expense		1 year
Nonvested restricted stock outstanding (in shares)		241	239
Share-based payment award, options, outstanding (in shares)		200
Officers And Key Management Employees \| Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cliff vesting period	3 years
Minimum \| Officers And Key Management Employees \| Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	0%
Maximum \| Officers And Key Management Employees \| Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	200%

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Nonvested Restricted Stock Activity and Related Information (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Shares
Non-vested restricted stock outstanding at end of period (in shares)	300
Restricted Shares
Shares
Non-vested restricted stock outstanding at beginning of period (in shares)	296
Granted (in shares)	144
Vested (in shares)	(135)
Forfeited (in shares)	(3)
Non-vested restricted stock outstanding at end of period (in shares)	302
Weighted Average Grant Date Fair Value
Non-vested restricted stock outstanding at beginning of period (in usd per share) \| $ / shares	$ 135.39
Granted (in usd per share) \| $ / shares	181.93
Vested (in usd per share) \| $ / shares	132.65
Forfeited (in usd per share) \| $ / shares	139.47
Non-vested restricted stock outstanding at end of period (in usd per share) \| $ / shares	$ 158.83
Performance Restricted Stock Units
Shares
Non-vested restricted stock outstanding at beginning of period (in shares)	239
Granted (in shares)	77
Performance assumption change (in shares)	24
Vested (in shares)	(99)
Forfeited (in shares)	0
Non-vested restricted stock outstanding at end of period (in shares)	241
Weighted Average Grant Date Fair Value
Non-vested restricted stock outstanding at beginning of period (in usd per share) \| $ / shares	$ 131.90
Granted (in usd per share) \| $ / shares	181.93
Performance assumption change (in usd per share) \| $ / shares	121.91
Vested (in usd per share) \| $ / shares	121.91
Forfeited (in usd per share) \| $ / shares	0
Non-vested restricted stock outstanding at end of period (in usd per share) \| $ / shares	$ 151.05

Retirement and Pension Plans -

Retirement and Pension Plans - Components of Net Periodic Pension Benefit Expense (Income) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined benefit plans:
Service cost	$ 730	$ 740
Interest cost	6,989	7,501
Expected return on plan assets	(13,632)	(12,996)
Amortization of net actuarial loss and other	2,337	2,821
Pension income	(3,576)	(1,934)
Other plans:
Defined contribution plans	14,595	13,516
Foreign plans and other	1,689	2,571
Total other plans	16,284	16,087
Total net pension expense	$ 12,708	$ 14,153

Retirement and Pension Plans _2

Retirement and Pension Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Retirement Benefits [Abstract]
Defined benefit pension plan contributions	$ 1.5	$ 1.4

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) site	Dec. 31, 2023 USD ($)
Site Contingency [Line Items]
Number of non-owned sites company is named potentially responsible party \| site	12
Total environmental reserves	$ 35.6	$ 37.1
Payments for environmental matters	4.8
HCC Industries
Site Contingency [Line Items]
Environmental expense	$ 3.3