Business Segments

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Business Segments

Business Segments

IDEX has three reportable business segments: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products.

The Fluid & Metering Technologies (“FMT”) segment designs, produces and distributes positive displacement pumps, small volume provers, 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 (“HST”) 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 (“FSDP”) segment designs, produces and develops 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 June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Net sales
Fluid & Metering Technologies
External customers	$	218,922	$	246,111	$	445,634	$	488,447
Intersegment sales	190		78		339		264
Total segment sales	219,112		246,189		445,973		488,711
Health & Science Technologies
External customers	215,234		232,172		438,690		456,860
Intersegment sales	434		81		1,037		683
Total segment sales	215,668		232,253		439,727		457,543
Fire & Safety/Diversified Products
External customers	127,093		163,816		271,387		319,023
Intersegment sales	(17)		227		13		1,179
Total segment sales	127,076		164,043		271,400		320,202
Intersegment elimination	(607)		(386)		(1,389)		(2,126)
Total net sales	$	561,249	$	642,099	$	1,155,711	$	1,264,330
Operating income
Fluid & Metering Technologies	$	50,938	$	74,146	$	117,709	$	146,012
Health & Science Technologies	48,007		56,763		100,650		110,917
Fire & Safety/Diversified Products	28,837		43,614		66,874		83,942
Corporate office	(17,188)		(19,240)		(34,698)		(37,806)
Total operating income	110,594		155,283		250,535		303,065
Interest expense	12,439		11,011		23,316		21,932
Other (income) expense - net	6,460		(378)		8,025		(518)
Income before income taxes	$	91,695	$	144,650	$	219,194	$	281,651

	June 30, 2020		December 31, 2019
Assets
Fluid & Metering Technologies	$	1,318,336	$	1,150,712
Health & Science Technologies	1,509,374		1,507,108
Fire & Safety/Diversified Products	781,693		825,398
Corporate office	464,189		330,694
Total assets	$	4,073,592	$	3,813,912