Business Segments and Geographic Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Business Segments and Geographic Information

Business Segments and Geographic Information

IDEX 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 food, chemical, general industrial, water and wastewater, agricultural and energy 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, including 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, 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 sales and operating income are the primary financial measures. Intersegment sales are accounted for at fair value as if the sales were to third parties.

	2014			2013			2012
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	898,530		$	870,720		$	829,320
Intersegment sales	1,058			1,094			3,968
	899,588			871,814			833,288
Health & Science Technologies
External customers	747,186			708,940			689,574
Intersegment sales	4,835			5,710			5,661
Total segment sales	752,021			714,650			695,235
Fire & Safety/Diversified Products
External customers	502,051			444,470			435,364
Intersegment sales	698			579			1,689
Total segment sales	502,749			445,049			437,053
Intersegment eliminations	(6,591		)	(7,383		)	(11,318		)
Total net sales	$	2,147,767		$	2,024,130		$	1,954,258
OPERATING INCOME (LOSS) (1)
Fluid & Metering Technologies (2)	$	216,886		$	211,256		$	146,650
Health & Science Technologies (2)	152,999			136,707			(62,835		)
Fire & Safety/Diversified Products	130,494			102,730			96,120
Corporate office	(69,155		)	(55,180		)	(51,717		)
Total operating income	431,224			395,513			128,218
Interest expense	41,895			42,206			42,250
Other (income) expense - net	(3,111		)	178			(236		)
Income before taxes	$	392,440		$	353,129		$	86,204

	2014		2013		2012
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,026,238	$	1,025,352	$	1,023,143
Health & Science Technologies	1,101,155		1,113,546		1,102,868
Fire & Safety/Diversified Products	510,841		484,139		488,886
Corporate office	269,836		264,540		170,493
Total assets	$	2,908,070	$	2,887,577	$	2,785,390
DEPRECIATION AND AMORTIZATION (3)
Fluid & Metering Technologies	$	26,453	$	27,633	$	29,637
Health & Science Technologies	42,478		43,496		39,981
Fire & Safety/Diversified Products	6,583		6,852		7,107
Corporate office and other	1,393		1,353		1,587
Total depreciation and amortization	$	76,907	$	79,334	$	78,312
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	18,215	$	11,581	$	13,535
Health & Science Technologies	19,161		12,280		13,140
Fire & Safety/Diversified Products	6,761		5,040		6,654
Corporate office and other	3,860		2,635		2,191
Total capital expenditures	$	47,997	$	31,536	$	35,520

(1) Segment operating income (loss) excludes net unallocated corporate operating expenses.

(2) Segment operating income (loss) includes asset impairment charges in 2012 of $27.7 million within the Fluid & Metering Technologies segment and $170.8 million within the Health & Science Technologies segment.

(3) Excludes amortization of debt issuance expenses.

Information about the Company’s operations in different geographical regions for the years ended December 31, 2014, 2013 and 2012 is shown below. Net sales were attributed to geographic areas based on location of the customer and no country outside the U.S. was greater than 10% of total revenues.

	2014		2013		2012
	(In thousands)
NET SALES
U.S.	$	1,068,758	$	983,791	$	963,137
North America, excluding U.S.	95,917		88,213		93,010
Europe	527,975		521,491		479,744
Asia	337,668		306,466		305,185
Other	117,449		124,169		113,182
Total net sales	$	2,147,767	$	2,024,130	$	1,954,258
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	139,702	$	124,880	$	127,425
North America, excluding U.S.	814		901		1,239
Europe	54,088		63,018		64,137
Asia	24,912		24,590		26,320
Other	27		99		40
Total long-lived assets — net	$	219,543	$	213,488	$	219,161