Business Segments

6 Months Ended

Jun. 30, 2015

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   June 30,						Six Months Ended   June 30,
	2015			2014			2015			2014
Net sales
Fluid & Metering Technologies
External customers	$	214,983		$	225,866		$	432,915		$	448,873
Intersegment sales	310			234			626			588
Total group sales	215,293			226,100			433,541			449,461
Health & Science Technologies
External customers	188,046			184,849			365,796			368,741
Intersegment sales	359			823			1,729			3,306
Total group sales	188,405			185,672			367,525			372,047
Fire & Safety/Diversified Products
External customers	111,852			135,978			218,368			273,075
Intersegment sales	89			204			195			391
Total group sales	111,941			136,182			218,563			273,466
Intersegment elimination	(758		)	(1,261		)	(2,550		)	(4,285		)
Total net sales	$	514,881		$	546,693		$	1,017,079		$	1,090,689
Operating income
Fluid & Metering Technologies	$	51,857		$	55,623		$	107,755		$	112,030
Health & Science Technologies	42,060			36,137			79,517			72,366
Fire & Safety/Diversified Products	31,482			35,985			58,644			75,633
Corporate office and other	(15,490		)	(15,657		)	(34,250		)	(34,106		)
Total operating income	109,909			112,088			211,666			225,923
Interest expense	10,584			10,405			21,181			20,862
Other (income) expense - net	827			137			(896		)	(707		)
Income before income taxes	$	98,498		$	101,546		$	191,381		$	205,768

	June 30, 2015		December 31, 2014
Assets
Fluid & Metering Technologies	$	1,161,544	$	1,026,238
Health & Science Technologies	1,121,965		1,101,155
Fire & Safety/Diversified Products	461,302		510,841
Corporate office	158,547		269,836
Total assets	$	2,903,358	$	2,908,070