Business Segments

The Company has three reportable business segments: Fluid & Metering Technologies (“FMT”), Health & Science Technologies (“HST”) and Fire & Safety/Diversified Products (“FSDP”).

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 and 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 designs, produces and distributes 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, operating income and operating margin are the primary financial measures. Intersegment sales are accounted for at fair value as if the sales were to third parties.



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Net sales
Fluid & Metering Technologies
External customers	$	239,119		$	220,897		$	714,135		$	658,675
Intersegment sales	94			56			211			230
Total segment sales	239,213			220,953			714,346			658,905
Health & Science Technologies
External customers	222,351			207,018			670,685			610,890
Intersegment sales	75			109			219			325
Total segment sales	222,426			207,127			670,904			611,215
Fire & Safety/Diversified Products
External customers	161,418			146,575			484,752			431,843
Intersegment sales	414			24			553			186
Total segment sales	161,832			146,599			485,305			432,029
Intersegment elimination	(583		)	(189		)	(983		)	(741		)
Total net sales	$	622,888		$	574,490		$	1,869,572		$	1,701,408
Operating income
Fluid & Metering Technologies	$	69,755		$	61,988		$	207,149		$	179,830
Health & Science Technologies	49,144			46,073			153,519			134,605
Fire & Safety/Diversified Products	44,726			36,199			130,162			106,022
Corporate office	(18,492		)	(17,756		)	(61,183		)	(53,149		)
Total operating income	145,133			126,504			429,647			367,308
Interest expense	10,958			11,064			33,098			33,920
Other (income) expense - net	934			1,653			(3,565		)	1,717
Income before income taxes	$	133,241		$	113,787		$	400,114		$	331,671



	September 30, 2018		December 31, 2017
Assets
Fluid & Metering Technologies	$	1,141,116	$	1,101,580
Health & Science Technologies	1,352,886		1,323,373
Fire & Safety/Diversified Products	769,615		744,515
Corporate office	291,190		230,160
Total assets	$	3,554,807	$	3,399,628