Business Segments

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Business Segments

Business SegmentsIDEX 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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net sales
Fluid & Metering Technologies
External customers	$	220,553	$	240,758	$	666,187	$	729,205
Intersegment sales	194		103		533		367
Total segment sales	220,747		240,861		666,720		729,572
Health & Science Technologies
External customers	219,671		228,988		658,361		685,848
Intersegment sales	707		622		1,744		1,305
Total segment sales	220,378		229,610		660,105		687,153
Fire & Safety/Diversified Products
External customers	140,889		154,500		412,276		473,523
Intersegment sales	7		43		20		1,222
Total segment sales	140,896		154,543		412,296		474,745
Intersegment elimination	(908)		(768)		(2,297)		(2,894)
Total net sales	$	581,113	$	624,246	$	1,736,824	$	1,888,576
Operating income
Fluid & Metering Technologies	$	58,402	$	77,481	$	176,111	$	223,493
Health & Science Technologies	49,912		40,170		150,562		151,087
Fire & Safety/Diversified Products	37,103		41,967		103,977		125,909
Corporate office	(14,204)		(17,853)		(48,902)		(55,659)
Total operating income	131,213		141,765		381,748		444,830
Interest expense	10,642		11,330		33,958		33,262
Other (income) expense - net	(704)		1,219		7,321		701
Income before income taxes	$	121,275	$	129,216	$	340,469	$	410,867

	September 30, 2020		December 31, 2019
Assets
Fluid & Metering Technologies	$	1,327,303	$	1,150,712
Health & Science Technologies	1,535,745		1,507,108
Fire & Safety/Diversified Products	838,747		825,398
Corporate office	523,800		330,694
Total assets	$	4,225,595	$	3,813,912