Business Segments

9 Months Ended

Sep. 30, 2022

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, valves, 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, pneumatic components and sealing solutions, high performance molded and extruded sealing components, custom mechanical and shaft seals, engineered hygienic mixers and valves, biocompatible medical devices and implantables, air compressors and blowers, optical components and coatings, laboratory and commercial equipment, precision photonic solutions and precision gear and peristaltic pump technologies. HST serves a variety of end markets, including food and beverage, pharmaceutical and biopharmaceutical, cosmetics, marine, chemical, wastewater and water treatment, life sciences, research and defense markets.

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,
	2022		2021		2022		2021
Net sales
Fluid & Metering Technologies
External customers	$	307.4	$	251.3	$	878.8	$	745.2
Intersegment sales	0.2		—		0.7		0.7
Total segment sales	307.6		251.3		879.5		745.9
Health & Science Technologies
External customers	344.3		301.6		984.3		825.4
Intersegment sales	0.7		0.7		1.9		2.3
Total segment sales	345.0		302.3		986.2		827.7
Fire & Safety/Diversified Products
External customers	172.3		159.1		508.1		479.4
Intersegment sales	0.1		—		0.2		—
Total segment sales	172.4		159.1		508.3		479.4
Intersegment elimination	(1.0)		(0.7)		(2.8)		(3.0)
Total net sales	$	824.0	$	712.0	$	2,371.2	$	2,050.0
Operating income (loss) (1)
Fluid & Metering Technologies	$	94.5	$	69.0	$	257.8	$	195.4
Health & Science Technologies	85.6		70.4		255.7		213.0
Fire & Safety/Diversified Products	43.6		39.1		124.0		126.5
Corporate office and other	(21.5)		(17.3)		(61.1)		(59.9)
Total operating income	$	202.2	$	161.2	$	576.4	$	475.0

	September 30, 2022		December 31, 2021
Assets
Fluid & Metering Technologies	$	1,708.9	$	1,458.8
Health & Science Technologies	2,069.2		2,138.3
Fire & Safety/Diversified Products	885.1		892.5
Corporate office and other	229.4		427.6
Total assets	$	4,892.6	$	4,917.2

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