Business Segments

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Business Segments

Business Segments

The Company has three reportable business segments: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products.

The Fluid & Metering Technologies segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for the water and wastewater industries. The Health & Science Technologies segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, biotechnology, aerospace, semiconductor, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting original equipment manufacturer specifications. The Fire & Safety/Diversified Products segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications, and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world.

Information on the Company’s business segments is presented below, based on the nature of products and services offered. The Company evaluates performance based on several factors, of which operating income is the primary financial measure. Intersegment sales are accounted for at fair value as if the sales were to third parties.

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2014			2013			2014			2013
Net sales
Fluid & Metering Technologies
External customers	$	223,018		$	212,054		$	671,891		$	648,675
Intersegment sales	240			283			828			905
Total group sales	223,258			212,337			672,719			649,580
Health & Science Technologies
External customers	189,975			177,674			558,716			528,459
Intersegment sales	877			954			4,183			3,904
Total group sales	190,852			178,628			562,899			532,363
Fire & Safety/Diversified Products
External customers	120,186			100,889			393,261			326,376
Intersegment sales	127			188			518			450
Total group sales	120,313			101,077			393,779			326,826
Intersegment elimination	(1,244		)	(1,425		)	(5,529		)	(5,259		)
Total net sales	$	533,179		$	490,617		$	1,623,868		$	1,503,510
Operating income
Fluid & Metering Technologies	$	54,791		$	51,736		$	166,821		$	155,930
Health & Science Technologies	42,214			36,775			114,580			103,564
Fire & Safety/Diversified Products	31,355			22,119			106,988			74,027
Corporate office and other	(17,513		)	(13,261		)	(51,619		)	(41,881		)
Total operating income	110,847			97,369			336,770			291,640
Interest expense	10,461			10,570			31,323			31,724
Other (income) expense - net	(944		)	188			(1,651		)	(518		)
Income before income taxes	$	101,330		$	86,611		$	307,098		$	260,434

	September 30, 2014		December 31, 2013
Assets
Fluid & Metering Technologies	$	1,029,719	$	1,025,352
Health & Science Technologies	1,127,605		1,113,546
Fire & Safety/Diversified Products	512,585		484,139
Corporate office	269,403		264,540
Total assets	$	2,939,312	$	2,887,577