Business Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Information on Company's Business Segments

Information on the Company’s business segments is presented below based on the nature of the 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.

	2021		2020		2019
	(In millions)
NET SALES
Fluid & Metering Technologies
External customers	$	998.0	$	895.4	$	956.5
Intersegment sales	0.7		0.9		0.5
Total segment sales	998.7		896.3		957.0
Health & Science Technologies
External customers	1,119.0		893.4		912.6
Intersegment sales	2.8		2.6		1.8
Total segment sales	1,121.8		896.0		914.4
Fire & Safety/Diversified Products
External customers	647.8		562.8		625.5
Intersegment sales	0.1		0.1		1.3
Total segment sales	647.9		562.9		626.8
Intersegment eliminations	(3.6)		(3.6)		(3.6)
Total net sales	$	2,764.8	$	2,351.6	$	2,494.6
OPERATING INCOME (LOSS) (1)
Fluid & Metering Technologies	$	259.3	$	235.0	$	285.2
Health & Science Technologies	288.9		206.4		200.2
Fire & Safety/Diversified Products	169.3		144.2		165.3
Corporate office and other	(80.5)		(64.9)		(71.7)
Total operating income	637.0		520.7		579.0
Interest expense	41.0		44.8		44.3
Other expense - net	16.2		5.6		1.8
Income before income taxes	$	579.8	$	470.3	$	532.9

 

	2021		2020		2019
	(In millions)
ASSETS
Fluid & Metering Technologies	$	1,458.8	$	1,387.0	$	1,150.7
Health & Science Technologies	2,138.3		1,576.1		1,507.1
Fire & Safety/Diversified Products	892.5		891.9		825.4
Corporate office and other	427.6		559.4		330.7
Total assets	$	4,917.2	$	4,414.4	$	3,813.9
DEPRECIATION AND AMORTIZATION (2)
Fluid & Metering Technologies	$	30.5	$	25.9	$	22.2
Health & Science Technologies	56.7		41.8		39.7
Fire & Safety/Diversified Products	15.3		15.2		14.3
Corporate office and other	0.5		0.6		0.7
Total depreciation and amortization	$	103.0	$	83.5	$	76.9
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	21.0	$	11.9	$	17.3
Health & Science Technologies	41.5		27.7		22.0
Fire & Safety/Diversified Products	9.5		8.9		9.8
Corporate office and other	0.7		3.1		1.8
Total capital expenditures	$	72.7	$	51.6	$	50.9

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

(2) Excludes amortization of debt issuance expenses.

Schedule of Sales From External Customers and Long-Lived Assets

Information about the Company’s long-lived assets in different geographical regions for the years ended December 31, 2021, 2020 and 2019 is shown below.

	2021		2020		2019
	(In millions)
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	188.3	$	169.2	$	165.7
North America, excluding U.S.	5.4		5.0		3.8
Europe	98.9		100.0		88.1
Asia	34.5		24.0		22.5
Other	0.2		0.1		0.2
Total long-lived assets - net	$	327.3	$	298.3	$	280.3