Business Segments

6 Months Ended

Jun. 30, 2016

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, valves, monitors, nozzles, 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 as if the sales were to third parties.

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2016			2015			2016			2015
Net sales
Fluid & Metering Technologies
External customers	$	221,635		$	214,983		$	433,344		$	432,915
Intersegment sales	175			310			309			626
Total group sales	221,810			215,293			433,653			433,541
Health & Science Technologies
External customers	186,453			188,046			372,704			365,796
Intersegment sales	115			359			207			1,729
Total group sales	186,568			188,405			372,911			367,525
Fire & Safety/Diversified Products
External customers	141,608			111,852			246,220			218,368
Intersegment sales	3			89			9			195
Total group sales	141,611			111,941			246,229			218,563
Intersegment elimination	(293		)	(758		)	(525		)	(2,550		)
Total net sales	$	549,696		$	514,881		$	1,052,268		$	1,017,079
Operating income
Fluid & Metering Technologies	$	53,865		$	51,857		$	105,266		$	107,755
Health & Science Technologies	41,125			42,060			81,824			79,517
Fire & Safety/Diversified Products	34,116			31,482			59,520			58,644
Corporate office and other	(16,130		)	(15,490		)	(31,077		)	(34,250		)
Total operating income	112,976			109,909			215,533			211,666
Interest expense	11,205			10,584			21,694			21,181
Other (income) expense - net	(1,874		)	827			(2,618		)	(896		)
Income before income taxes	$	103,645		$	98,498		$	196,457		$	191,381

	June 30, 2016		December 31, 2015
Assets
Fluid & Metering Technologies	$	1,118,917	$	1,125,266
Health & Science Technologies	1,110,302		1,108,302
Fire & Safety/Diversified Products	753,491		448,867
Corporate office	126,646		123,008
Total assets	$	3,109,356	$	2,805,443