Business Segments

9 Months Ended

Sep. 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   September 30,						Nine Months Ended   September 30,
	2015			2014			2015			2014
Net sales
Fluid & Metering Technologies
External customers	$	211,971		$	223,018		$	644,886		$	671,891
Intersegment sales	130			240			756			828
Total group sales	212,101			223,258			645,642			672,719
Health & Science Technologies
External customers	184,816			189,975			550,612			558,716
Intersegment sales	77			877			1,806			4,183
Total group sales	184,893			190,852			552,418			562,899
Fire & Safety/Diversified Products
External customers	107,004			120,186			325,372			393,261
Intersegment sales	5			127			200			518
Total group sales	107,009			120,313			325,572			393,779
Intersegment elimination	(212		)	(1,244		)	(2,762		)	(5,529		)
Total net sales	$	503,791		$	533,179		$	1,520,870		$	1,623,868
Operating income
Fluid & Metering Technologies	$	46,910		$	54,791		$	154,665		$	166,821
Health & Science Technologies	38,371			42,214			117,888			114,580
Fire & Safety/Diversified Products	32,536			31,355			91,180			106,988
Corporate office income (expense) and other (1)	3,996			(17,513		)	(30,254		)	(51,619		)
Total operating income	121,813			110,847			333,479			336,770
Interest expense	10,229			10,461			31,410			31,323
Other (income) expense - net	(693		)	(944		)	(1,589		)	(1,651		)
Income before income taxes	$	112,277		$	101,330		$	303,658		$	307,098
(1) 2015 includes an $18.1 million gain on the sale of business.

	September 30, 2015		December 31, 2014
Assets
Fluid & Metering Technologies	$	1,154,614	$	1,026,238
Health & Science Technologies	1,119,185		1,101,155
Fire & Safety/Diversified Products	453,554		510,841
Corporate office	143,009		269,836
Total assets	$	2,870,362	$	2,908,070