Business Segments

6 Months Ended

Jun. 30, 2021

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 and regenerative blowers used in medical, dental, alternative energy 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 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,
	2021		2020		2021		2020
Net sales
Fluid & Metering Technologies
External customers	$	250,839	$	218,922	$	493,905	$	445,634
Intersegment sales	438		190		737		339
Total segment sales	251,277		219,112		494,642		445,973
Health & Science Technologies
External customers	274,296		215,234		523,803		438,690
Intersegment sales	716		434		1,578		1,037
Total segment sales	275,012		215,668		525,381		439,727
Fire & Safety/Diversified Products
External customers	160,812		127,093		320,275		271,387
Intersegment sales	—		(17)		21		13
Total segment sales	160,812		127,076		320,296		271,400
Intersegment elimination	(1,154)		(607)		(2,336)		(1,389)
Total net sales	$	685,947	$	561,249	$	1,337,983	$	1,155,711
Operating income (loss) (1)
Fluid & Metering Technologies	$	63,467	$	50,938	$	126,364	$	117,709
Health & Science Technologies	75,963		48,007		142,613		100,650
Fire & Safety/Diversified Products	42,797		28,837		87,357		66,874
Corporate office and other	(23,971)		(17,188)		(42,531)		(34,698)
Total operating income	158,256		110,594		313,803		250,535
Interest expense	11,205		12,439		21,981		23,316
Other (income) expense - net	17,175		6,460		16,327		8,025
Income before income taxes	$	129,876	$	91,695	$	275,495	$	219,194

	June 30, 2021		December 31, 2020
Assets
Fluid & Metering Technologies	$	1,545,829	$	1,387,067
Health & Science Technologies	2,127,316		1,576,093
Fire & Safety/Diversified Products	826,034		891,864
Corporate office and other	283,818		559,374
Total assets	$	4,782,997	$	4,414,398

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