Business Segments and Geographic Information

12 Months Ended

Dec. 31, 2019

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 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, custom mechanical and shaft seals for a variety of end markets including food and beverage, marine, chemical, wastewater and water treatment, engineered hygienic mixers and valves for the global biopharmaceutical industry, 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.



	2019			2018			2017
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	956,523		$	951,275		$	880,648
Intersegment sales	505			277			309
Total segment sales	957,028			951,552			880,957
Health & Science Technologies
External customers	912,623			895,970			819,719
Intersegment sales	1,823			449			412
Total segment sales	914,446			896,419			820,131
Fire & Safety/Diversified Products
External customers	625,427			636,421			586,945
Intersegment sales	1,343			607			588
Total segment sales	626,770			637,028			587,533
Intersegment eliminations	(3,671		)	(1,333		)	(1,309		)
Total net sales	$	2,494,573		$	2,483,666		$	2,287,312
OPERATING INCOME (LOSS) ⁽¹⁾
Fluid & Metering Technologies	$	285,256		$	275,060		$	241,030
Health & Science Technologies	200,200			205,679			179,567
Fire & Safety/Diversified Products	165,258			168,601			147,028
Corporate office ⁽²⁾	(71,711		)	(80,252		)	(65,069		)
Total operating income	579,003			569,088			502,556
Interest expense	44,341			44,134			44,889
Other (income) expense - net	1,759			(3,985		)	2,394
Income before taxes	$	532,903		$	528,939		$	455,273



	2019		2018		2017
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,150,712	$	1,107,777	$	1,101,580
Health & Science Technologies	1,507,108		1,329,368		1,323,373
Fire & Safety/Diversified Products	825,398		806,075		744,515
Corporate office	330,694		230,637		230,160
Total assets	$	3,813,912	$	3,473,857	$	3,399,628
DEPRECIATION AND AMORTIZATION ⁽³⁾
Fluid & Metering Technologies	$	22,152	$	22,370	$	23,587
Health & Science Technologies	39,721		39,939		45,287
Fire & Safety/Diversified Products	14,333		14,493		14,541
Corporate office and other	670		742		801
Total depreciation and amortization	$	76,876	$	77,544	$	84,216
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	17,285	$	19,541	$	18,218
Health & Science Technologies	22,001		26,039		16,340
Fire & Safety/Diversified Products	9,811		10,318		6,363
Corporate office and other	1,815		191		2,937
Total capital expenditures	$	50,912	$	56,089	$	43,858


(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.


(3)	Excludes amortization of debt issuance expenses.

Information about the Company’s long-lived assets in different geographical regions for the years ended December 31, 2019, 2018 and 2017 is shown below.



	2019		2018		2017
	(In thousands)
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	165,721	$	171,111	$	145,808
North America, excluding U.S.	3,829		3,398		3,627
Europe	88,104		85,100		85,932
Asia	22,505		21,355		22,613
Other	157		256		370
Total long-lived assets - net	$	280,316	$	281,220	$	258,350