Business Segments

9 Months Ended

Sep. 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, semi-conductor, 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 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   September 30,						Nine Months Ended   September 30,
	2016			2015			2016			2015
Net sales
Fluid & Metering Technologies
External customers	$	208,164		$	211,971		$	641,508		$	644,886
Intersegment sales	171			130			480			756
Total group sales	208,335			212,101			641,988			645,642
Health & Science Technologies
External customers	183,453			184,816			556,157			550,612
Intersegment sales	111			77			318			1,806
Total group sales	183,564			184,893			556,475			552,418
Fire & Safety/Diversified Products
External customers	138,739			107,004			384,959			325,372
Intersegment sales	28			5			37			200
Total group sales	138,767			107,009			384,996			325,572
Intersegment elimination	(310		)	(212		)	(835		)	(2,762		)
Total net sales	$	530,356		$	503,791		$	1,582,624		$	1,520,870
Operating income
Fluid & Metering Technologies	$	55,600		$	46,910		$	160,866		$	154,665
Health & Science Technologies	37,204			38,371			119,028			117,888
Fire & Safety/Diversified Products	32,189			32,536			91,709			91,180
Corporate office income (expense) and other (1)	(16,136		)	3,996			(47,213		)	(30,254		)
Total operating income	108,857			121,813			324,390			333,479
Interest expense	11,913			10,229			33,607			31,410
Other (income) expense - net	(2,364		)	(693		)	(4,982		)	(1,589		)
Income before income taxes	$	99,308		$	112,277		$	295,765		$	303,658
(1) 2016 includes a $2.1 million loss on sale of businesses and 2015 includes an $18.1 million gain on the sale of business.

	September 30, 2016		December 31, 2015
Assets
Fluid & Metering Technologies	$	1,084,118	$	1,125,266
Health & Science Technologies	1,323,130		1,108,302
Fire & Safety/Diversified Products	741,427		448,867
Corporate office	113,789		123,008
Total assets	$	3,262,464	$	2,805,443