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 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, valves 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.



	2017			2016 ⁽⁴⁾			2015⁽⁴⁾
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	880,648		$	848,708		$	859,945
Intersegment sales	309			393			847
Total segment sales	880,957			849,101			860,792
Health & Science Technologies
External customers	819,719			744,380			737,011
Intersegment sales	412			429			1,985
Total segment sales	820,131			744,809			738,996
Fire & Safety/Diversified Products
External customers	586,945			519,955			423,712
Intersegment sales	588			54			203
Total segment sales	587,533			520,009			423,915
Intersegment eliminations	(1,309		)	(876		)	(3,035		)
Total net sales	$	2,287,312		$	2,113,043		$	2,020,668
OPERATING INCOME (LOSS) ⁽¹⁾
Fluid & Metering Technologies	$	241,030		$	217,500		$	206,419
Health & Science Technologies	179,567			153,691			158,364
Fire & Safety/Diversified Products	147,028			123,605			117,346
Corporate office ⁽²⁾	(65,069		)	(82,399		)	(45,139		)
Total operating income	502,556			412,397			436,990
Interest expense	44,889			45,616			41,636
Other (income) expense - net	2,394			(1,731		)	3,009
Income before taxes	$	455,273		$	368,512		$	392,345



	2017		2016 ⁽⁴⁾		2015⁽⁴⁾
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,101,580	$	1,065,670	$	1,125,266
Health & Science Technologies	1,323,373		1,266,036		1,108,302
Fire & Safety/Diversified Products	744,515		705,735		448,867
Corporate office	230,160		117,503		123,008
Total assets	$	3,399,628	$	3,154,944	$	2,805,443
DEPRECIATION AND AMORTIZATION ⁽³⁾
Fluid & Metering Technologies	$	23,587	$	28,458	$	27,662
Health & Science Technologies	45,287		45,298		42,827
Fire & Safety/Diversified Products	14,541		11,956		6,051
Corporate office and other	801		1,180		1,580
Total depreciation and amortization	$	84,216	$	86,892	$	78,120
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	18,218	$	16,389	$	22,846
Health & Science Technologies	16,340		15,665		13,104
Fire & Safety/Diversified Products	6,363		5,945		5,804
Corporate office and other	2,937		243		2,022
Total capital expenditures	$	43,858	$	38,242	$	43,776


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


(2)	2017 includes a $9.3 million gain on the sale of a business, 2016 includes a $22.3 million loss on the sale of businesses - net and 2015 includes an $18.1 million gain on the sale of a business.


(3)	Excludes amortization of debt issuance expenses.


(4)	Certain amounts in the prior year income statements have been reclassified to conform with the current presentation due to the early adoption of ASU 2017-07.

Information about the Company’s operations in different geographical regions for the years ended December 31, 2017, 2016 and 2015 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.



	2017		2016		2015
	(In thousands)
NET SALES
U.S.	$	1,158,889	$	1,067,333	$	1,015,277
North America, excluding U.S.	93,419		84,836		85,852
Europe	567,282		517,179		490,435
Asia	366,577		340,624		325,507
Other	101,145		103,071		103,597
Total net sales	$	2,287,312	$	2,113,043	$	2,020,668
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	145,808	$	152,504	$	144,508
North America, excluding U.S.	3,627		1,533		643
Europe	85,932		71,681		69,082
Asia	22,613		21,793		26,498
Other	370		305		214
Total long-lived assets — net	$	258,350	$	247,816	$	240,945