Business Segments

3 Months Ended

Mar. 31, 2017

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, valves, 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 sealing components, 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, apparatus 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   March 31,
	2017			2016 (1)
Net sales
Fluid & Metering Technologies
External customers	$	216,655		$	211,709
Intersegment sales	115			134
Total group sales	216,770			211,843
Health & Science Technologies
External customers	199,575			186,251
Intersegment sales	104			92
Total group sales	199,679			186,343
Fire & Safety/Diversified Products
External customers	137,322			104,612
Intersegment sales	125			6
Total group sales	137,447			104,618
Intersegment elimination	(344		)	(232		)
Total net sales	$	553,552		$	502,572
Operating income
Fluid & Metering Technologies	$	57,813		$	51,703
Health & Science Technologies	42,238			40,682
Fire & Safety/Diversified Products	32,626			25,654
Corporate office expense and other (2)	(17,006		)	(14,694		)
Total operating income	115,671			103,345
Interest expense	11,552			10,489
Other (income) expense - net	(308		)	44
Income before income taxes	$	104,427		$	92,812
(1) Certain amounts in the prior year income statement have been reclassified to conform to the current presentation due to the early adoption of ASU 2017-07.
(2) Corporate office expense for the three months ended March 31, 2016 includes a $3.7 million benefit from the reversal of the contingent consideration related to a 2015 acquisition.

	March 31, 2017		December 31, 2016
Assets
Fluid & Metering Technologies	$	1,079,230	$	1,065,670
Health & Science Technologies	1,281,976		1,266,036
Fire & Safety/Diversified Products	709,135		705,735
Corporate office	93,444		117,503
Total assets	$	3,163,785	$	3,154,944