Business Segments and Geographic Information

12 Months Ended

Dec. 31, 2015

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 & wastewater, agriculture 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.

	2015			2014			2013
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	859,945		$	898,530		$	870,720
Intersegment sales	847			1,058			1,094
Total segment sales	860,792			899,588			871,814
Health & Science Technologies
External customers	737,011			747,186			708,940
Intersegment sales	1,985			4,835			5,710
Total segment sales	738,996			752,021			714,650
Fire & Safety/Diversified Products
External customers	423,712			502,051			444,470
Intersegment sales	203			698			579
Total segment sales	423,915			502,749			445,049
Intersegment eliminations	(3,035		)	(6,591		)	(7,383		)
Total net sales	$	2,020,668		$	2,147,767		$	2,024,130
OPERATING INCOME (LOSS) (1)
Fluid & Metering Technologies	$	204,506		$	216,886		$	211,256
Health & Science Technologies	157,948			152,999			136,707
Fire & Safety/Diversified Products	115,745			130,494			102,730
Corporate office (2)	(46,461		)	(69,155		)	(55,180		)
Total operating income	431,738			431,224			395,513
Interest expense	41,636			41,895			42,206
Other (income) expense - net	(2,243		)	(3,111		)	178
Income before taxes	$	392,345		$	392,440		$	353,129

	2015		2014		2013
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,125,266	$	1,026,238	$	1,025,352
Health & Science Technologies	1,108,302		1,101,155		1,113,546
Fire & Safety/Diversified Products	448,867		510,841		484,139
Corporate office (3)	123,008		265,229		258,081
Total assets	$	2,805,443	$	2,903,463	$	2,881,118
DEPRECIATION AND AMORTIZATION (4)
Fluid & Metering Technologies	$	27,662	$	26,453	$	27,633
Health & Science Technologies	42,827		42,478		43,496
Fire & Safety/Diversified Products	6,051		6,583		6,852
Corporate office and other	1,580		1,393		1,353
Total depreciation and amortization	$	78,120	$	76,907	$	79,334
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	22,846	$	18,215	$	11,581
Health & Science Technologies	13,104		19,161		12,280
Fire & Safety/Diversified Products	5,804		6,761		5,040
Corporate office and other	2,022		3,860		2,635
Total capital expenditures	$	43,776	$	47,997	$	31,536

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

(2) 2015 includes an $18.1 million gain on sale of business.

(3) 2014 balance has been reclassified to conform to the current presentation.

(4) Excludes amortization of debt issuance expenses.

Information about the Company’s operations in different geographical regions for the years ended December 31, 2015, 2014 and 2013 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.

	2015		2014		2013
	(In thousands)
NET SALES
U.S.	$	1,015,277	$	1,068,758	$	983,791
North America, excluding U.S.	85,852		95,917		88,213
Europe	490,435		527,975		521,491
Asia	325,507		337,668		306,466
Other	103,597		117,449		124,169
Total net sales	$	2,020,668	$	2,147,767	$	2,024,130
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	144,508	$	139,702	$	124,880
North America, excluding U.S.	643		814		901
Europe	69,082		54,088		63,018
Asia	26,498		24,912		24,590
Other	214		27		99
Total long-lived assets — net	$	240,945	$	219,543	$	213,488