Business Segments

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Business Segments

Business Segments

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

The 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 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 the products and services offered. The Company evaluates its 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,
	2021		2020		2021		2020
Net sales
Fluid & Metering Technologies
External customers	$	251,297	$	220,553	$	745,202	$	666,187
Intersegment sales	—		194		737		533
Total segment sales	251,297		220,747		745,939		666,720
Health & Science Technologies
External customers	301,637		219,671		825,440		658,361
Intersegment sales	650		707		2,228		1,744
Total segment sales	302,287		220,378		827,668		660,105
Fire & Safety/Diversified Products
External customers	159,085		140,889		479,360		412,276
Intersegment sales	21		7		42		20
Total segment sales	159,106		140,896		479,402		412,296
Intersegment elimination	(671)		(908)		(3,007)		(2,297)
Total net sales	$	712,019	$	581,113	$	2,050,002	$	1,736,824
Operating income (loss) (1)
Fluid & Metering Technologies	$	69,020	$	58,402	$	195,384	$	176,111
Health & Science Technologies	70,374		49,912		212,987		150,562
Fire & Safety/Diversified Products	39,126		37,103		126,483		103,977
Corporate office and other	(17,335)		(14,204)		(59,866)		(48,902)
Total operating income	161,185		131,213		474,988		381,748
Interest expense	9,498		10,642		31,479		33,958
Other expense (income) - net	630		(704)		16,957		7,321
Income before income taxes	$	151,057	$	121,275	$	426,552	$	340,469

	September 30, 2021		December 31, 2020
Assets
Fluid & Metering Technologies	$	1,563,000	$	1,387,067
Health & Science Technologies	2,128,510		1,576,093
Fire & Safety/Diversified Products	826,384		891,864
Corporate office and other	336,685		559,374
Total assets	$	4,854,579	$	4,414,398

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